Tesla shareholders have approved the SolarCity takeover

REUTERS/Beck Diefenbach

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

CEO Elon Musk said that the votes in favor of buying SolarCity were "overwhelming."

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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.

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