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Actionable news in SCTY: SolarCity Corporation,

Tesla-Solarcity merger 'may even be a little late'

Elon Musk dismissed critics who say it is too early for Tesla to acquire SolarCity, saying it will streamline the ability to secure big contracts.

"It is really an accident of history that the companies are even separate," Musk told CNBC in an interview Friday.

Musk said the need to join both companies became apparent as customers began doing joint deals with the two.

"It was getting clunkier and clunkier to do these joint deals," Musk said, citing a recently signed 20-year contract with the Kaua'i Island Utility Cooperative for a SolarCity solar array and Tesla energy storage facility on the island as an example.

"It took us months to vet that through our independent board members of both companies, and confirm that it was an arm's-length transaction, and it was just very unwieldy," said Musk. "We are going to do hundreds — if not thousands — of deals of that size and bigger," he...