Tesla to Buy Energy Storage Firm Maxwell Tech at $4.75 a Share

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According to (This article and its images were originally posted on Bloomberg February 4, 2019 at 09:21AM.)

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.

For Tesla, the small acquisition gives the electric-car maker a short-term energy storage technology that its Chief Executive Officer Musk has called a key to the future of electric cars. Maxwell’s lithium-ion capacitors may assist with faster charging capability, said Theo O’Neill, an analyst at Ascendiant Capital Markets.

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This article and images were originally posted on [Bloomberg] February 4, 2019 at 09:21AM. Credit to the original author and Bloomberg | ESIST.T>G>S Recommended Articles Of The Day.

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