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American electric auto manufacturer Tesla acquired San Diego-headquartered energy storage maker Maxwell Technologies in an all-stock deal worth USD218 million.

In a press release Cheap Stevan Jovetic Jersey , Maxwell Technologies stated that Tesla will begin an all stock exchange offer for all the issued and outstand shares of the company, after which Maxwell will be merged with a Tesla arm and become a completely-owned arm of Tesla.


The deal will value each of Maxwell Technologies鈥?45.9 million shares at USD 4.75, the press release also added.


Even as there can be no assurances on the closing date Cheap Stephen Danso Jersey , the company expects that the merger will be completed in the second quarter of 2019 after meeting all conditions and timing of the approvals.


Franz Fink, president and chief executive at Maxwell, stated that the company is excited with the present day鈥檚 announcement that Tesla has accorded to acquire Maxwell.


Maxwell was represented by DLA Piper outside legal counsel and Barclays Capital served as independent advisor to the company in regard to the deal. Tesla was represented by Wilson Sonsini Goodrich & Rosati as outside legal counsel.


In January Cheap Samuele Longo Jersey , Maxwell officials told investors that it had developed and patented a dry electrode technology that could considerably enhance the driving range and diminish the cost of electric vehicle batteries.


The company also manufactures ultracapacitors that discharge energy faster compared to batteries and regarded as complementing battery technology.


Combined with the energy of batteries, ultracapacitors function across a wider temperature range and enhance battery life by up to two times, as per a blog post of the website of Maxwell.


Tesla also sells power storage and ultracapacitors could be utilized in backup systems for house and for utility power grids.

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I am an Anglican Priest who has worked for many years as a health care chaplain in a multi-faith setting. We provide Spritual, Pastoral and Religious Care for those with or without a faith. I have been a chaplain for 22 years. I now work part time and am also a business owner helping people to develop a postive mindset. I beleive that God works in all faiths and that there is a development where science and relgion is coming together. I hope that one day all peoples of this earth will live in peace and harmony. Peace and Light to you all. You can follow my blog on

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