Tesla CEO Elon Musk - who is also the chairman of SolarCity - proposed the merger in June.
SolarCity shareholders will receive 0.11 share of Tesla for each SolarCity share. As of Oct 10, the deal values SolarCity shares at USD 22.10, for a total value of USD 2.45 billion.
Those values could change - the final terms will be determined by the value of Tesla shares on the day the merger goes into effect.
The value of the deal has dropped about USD 2 billion since it was first proposed.
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