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Tesla buys Maxwell Technologies for US$4.75 per share in all-stock deal

Monday, February 4, 2019 7:17

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Tesla Inc (NASDAQ: TSLA) announced Monday that is will acquire Maxwell Technologies Inc (NASDA:MXWL) in an all-stock deal valued at US$218 million.

The electric-vehicle maker will pay $4.75 for each share of Maxwell stock – a 54.7% premium over Friday’s closing price of $3.07.

READ: Tesla turns a profit for second quarter in a row, but Wall Street expected more

Maxwell is a maker of ultracapacitors, which help to reduce the size and cost of batteries used in electric vehicles.

Maxwell shares soared 54% to $4.72 in pre-market trading, while Tesla shares dipped slightly to $311.97.

Contact Paul Curcio at [email protected]

Follow him on Twitter @GoCurcioGo

Story by ProactiveInvestors

Source: https://www.proactiveinvestors.com/companies/news/213909/tesla-buys-maxwell-technologies-for-us475-per-share-in-all-stock-deal-213909.html

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