Elon Musk will not vote on Tesla’s (TSLA) acquisition of SolarCity (SCTY), shareholders will decide on Musk Industries [Poll]
Today, Tesla (TSLA) announced that it submitted an offer to acquire SolarCity (SCTY), the leading solar installer in the US. Elon Musk is the largest individual shareholder of both companies. Due to his obvious interest in the deal, which is already being called a bailout by some shareholders, Musk decided to recuse himself from the vote at both companies and leave it to Tesla and SolarCity shareholders to decide on the possible consolidation of ‘Musk Industries’.
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