Tesla’s purchase of SolarCity does not seem evenhanded and the solar outfit’s shares should be sold, said TheStreet’s Jim Cramer. Tesla warned Monday that its planned $2.6 billion deal forSolarCity could be delayed in closing due to shareholder lawsuits objecting to the combination. The automaker in an amended regulatory filing said that four shareholder suits have been filed over the deal, which would combine two companies with significant board and management overlap and which both count Tesla CEO Elon Musk as a major shareholder. The suits, all filed in the Court of Chancery of the State of Delaware, all allege that Tesla board members breached their fiduciary duties when considering the transaction.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
