Deals
Tesla to Buy Energy Storage Firm Maxwell Tech at $4.75 a Share
- Musk sees supercapacitor technology as key to future of EVs
- Maxwell poised to be Tesla’s fifth acquisition in four years
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Tesla Inc. agreed to acquire battery-technology company Maxwell Technologies Inc. for about $218 million in stock, as Elon Musk adds expertise in capacitors that could speed up electric-car charging.
The purchase price of $4.75 a share, announced by Maxwell in a statement on Monday, amounts to about a 55 percent premium to the target’s closing price on Feb. 1. Tesla is always looking for potential acquisitions that support its mission, a spokesman said.