Shareholders of Tesla Motors Inc. and SolarCity Corp. approved Tesla’s $2.1 billion all-stock offer to merge and create one company headed by Elon Musk that would sell emissions-free cars and rooftop solar panels that power them.
“Your faith will be rewarded,” Mr. Musk told Tesla investors on Thursday after the company announced shareholders overwhelmingly approved the deal.
Tesla announced that the merger was approved by 85% of Tesla shareholders, excluding Mr. Musk and other affiliated shareholders. SolarCity didn’t disclose the percentage of its shareholders voting.
