Investors that share Tesla CEO Elon Musk’s long-term vision may applaud his SolarCity purchase, but it will weigh on Tesla shares, said TheStreet’s TST Jim Cramer. SolarCity agreed to a $2.6 billion takeover deal from Elon Musk’s electric car company this week. SolarCity stockholders will receive 0.110 Tesla common shares per SolarCity share, valuing SolarCity common stock at $25.37 per share based on the 5-day volume weighted average price of Tesla shares as of July 29. The deal is expected to close in the fourth quarter. The combined company would be 93.5%-owned by Tesla shareholders and 6.5% by investors in SolarCity.
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