Tesla CEO Elon Musk To WSJ: The 'Most Informed Investors Are Highly Supportive' Of Proposed SolarCity Acquisition

Many investors and Wall Street analysts weren't pleased with Tesla Motors Inc TSLA's announcement of its plans to acquire "sister company" SolarCity Corp SCTY in late June.

Tesla offered to pay $26.50 to $28.50 a share to acquire SolarCity.

Tesla's CEO Elon Musk also happens to be SolarCity's chairman of the board of directors. In addition, Musk's cousin, Lyndon Rive, is SolarCity's CEO.

Musk's bold acquisition requires the approval of shareholders for the deal to pass. He told the Wall Street Journal in an interview on Tuesday that he expects a majority of investors to support the combination of the two companies.

Related Link: Tesla Has Already Admitted That Its Merger With SolarCity Makes No Sense Did you like this article? Could it have been improved? Please email feedback@benzinga.com with the story link to let us know!

"The most informed investors are highly supportive of the transaction," Musk said in the interview. He added that he has yet to "talk to an investor after I have fully explained the situation and not had them support it."

Musk himself is barred from voting on the deal given the obvious conflict of interest and his involvement in the two companies. Nevertheless, he expects at least a two-thirds majority, or a super-majority, of investors will vote to support the deal.

Shares of Tesla were trading higher by 0.79 percent at $227.04 early Wednesday morning while shares of SolarCity were higher by 1.68 percent at $26.70.