Worse, SolarCity was preparing to lower its guidance for the amount of solar panels it expected to install this year. (When it revised the guidance lower on the same day it announced its merger agreement with Tesla, SolarCity's stock sunk more than 7%.) SolarCity's troubles also led Tesla to lower its acquisition offer—even after SolarCity asked Tesla to raise its initial bid. Disappointed with Tesla's counteroffer in the other direction, Kendall and Pfund—SolarCity's two-member committee—discussed going back to Party B, which might have been better equipped to compete with Tesla's lowered bid, as Party B's "perspective on the valuation of SolarCity" was now closer to Tesla's view. Ultimately, though, the directors abandoned the idea, thinking they were unlikely to elicit a better offer.