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

The electric-vehicle maker gets its hands on Maxwell’s ultracapacitor battery technology
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The electric-vehicle maker will pay $4.75 for each share of Maxwell stock

Tesla Inc (NASDAQ: TSLA) announced Monday that it 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.

The San Diego-based company's shares soared 49.7% to $4.60 in morning trading, while Tesla shares dipped slightly to $309.87.

Contact Paul Curcio at [email protected]

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