Tesla shares tumble as it makes offer for SolarCity

June 21, 2016 10:38 PM

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Tesla Motors (TSLA) made an offer Tuesday to buy solar energy provider SolarCity (SCTY) in a $2.79-billion deal that would consolidate billionaire entrepreneur Elon Musk's energy-related businesses.

Musk sounded thrilled at the prospect, but Tesla shares were falling sharply after the close of trading.

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