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Tesla (TSLA) has entered into an agreement to acquire battery manufacturer Maxwell Technologies (MXWL) for about $218 million. This offer values each share of Maxwell at $4.75. The transaction is expected to complete by the second quarter of 2019 or shortly thereafter. Shares of Maxell surged about 50%, while Tesla stock traded in the red […]
· February 4, 2019
Tesla (TSLA) has entered into an agreement to acquire battery manufacturer Maxwell Technologies (MXWL) for about $218 million. This offer values each share of Maxwell at $4.75. The transaction is expected to complete by the second quarter of 2019 or shortly thereafter. Shares of Maxell surged about 50%, while Tesla stock traded in the red during Monday’s morning trading session. 
Under the agreement terms, about 46 million shares of Maxwell will be bought by Tesla for $4.75 a share, which represents a premium of 55% compared to Maxwell’s closing price of $3.07 on Friday. Maxwell’s Board of Directors unanimously approved the offer made by Tesla.
The San Deigo, California-based company provides energy storage and power delivery solutions for automotive, heavy transportation, renewable energy, backup power, wireless communications and industrial and consumer electronics applications.
