Tesla shareholders have approved the SolarCity takeover

Tesla shareholders voted in favour of its acquisition of SolarCity on Thursday.

CEO Elon Musk said that the votes in favour of buying SolarCity were “overwhelming.”

The deal is worth $2.6 billion.

Musk owns about 20% of both companies and is chairman of SolarCity. Musk is also the cousin of SolarCity’s CEO Lyndon Rive.

SolarCity shareholders also voted to approve the deal on Thursday.

This story is breaking, check back for updates.

NOW WATCH: Richard Branson: Entrepreneurs need to fill the gap where government is lacking

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.