Tesla Buys Battery Technology Firm Maxwell for $218 Million

The Street ^ | Monday, February 4, 2019 | Martin Baccardax

[SunkenCiv]

Tesla Inc. (TSLA) said Monday it will buy Maxwell Technologies Inc. (MXWL) , a battery technology firm based in San Diego, for around $218 million.

Telsla will pay $4.75 for each Maxwell share, the company said, a 54.7% premium to its closing price Friday of $3.07, and bring the company into the corporate fold as a wholly owned subsidiary.

"We are very excited with today's announcement that Tesla has agreed to acquire Maxwell. Tesla is a well-respected and world-class innovator that shares a common goal of building a more sustainable future," said Maxwell CEO Franz Fink. "We believe this transaction is in the best interests of Maxwell stockholders and offers investors the opportunity to participate in Tesla's mission of accelerating the advent of sustainable transport and energy."

Tesla shares were marked 0.18% lower at $311.64 each following the merger announcement.

[SunkenCiv]

"For Christmas I got batteries -- toys not included." -- Rodney Dangerfield

[SunkenCiv]

well, I messed up the graphic link as well. Time to crash.

Jack Benny Program: Jack at the Supermarket | uploaded Jan 18, 2011 by Jenny Li | YouTube

Rochester beat Jack in gin rummy and has taken the afternoon off to play golf, leaving Jack stuck with the household chores. Jack finds out how Rochester cheated and uses it to his advantage. Don Wilson and Dennis Day come to visit, and Dennis sings a song. Jack leaves for the supermarket, where he encounters Frank Nelson as a salesman. Jack's stingy stage character is shown when he sees a table of free samples of cake.

[FourtySeven]

Thank you!

[SunkenCiv]

You're welcome. The market's down, Tesla's down $10 or so (when I checked) along with some others I track..