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  1. #1
    Administrator Prime Time's Avatar
    Join Date
    May 2018

    Elon Musk to take Tesla Private?

    Just read this:

    Tesla boss Elon Musk is considering taking the electric-car firm private, a move he claimed was the "best path forward" for the company. He said de-listing from the stock exchange meant Tesla, currently valued at $63.8bn (50bn), would no longer be under the glare of Wall Street.

    In an unusual move, Mr Musk first made the announcement on Twitter rather than via an official regulatory disclosure. But analysts are sceptical about what would be the biggest buyout in history. Since Tesla floated on the stock market, Mr Musk has clashed with analysts and felt pressured into making short-term decisions to appease investors.

    Tesla shares ended the day 11% up at almost $380 per share - close to their all-time high. Mr Musk said shareholders would be offered $420 per share, valuing the business at more than $70bn. A buyout at that value would make it by far the biggest such deal. The current biggest is the purchase of utility TXU Corp in 2007 for $44bn by a consortium that included KKR and TPG.

    Mr Musk claimed to have secured funding to buy out shareholders, but did not provide details. However, he also warned that "a final decision has not been made" about the move. Any buy-out would need a shareholder vote. BBC business editor Simon Jack said that if it emerges that Mr Musk did not have solid financial backing for a buyout he could be in trouble with regulators for share price manipulation.

    Thoughts on this story, or on Tesla or Musk more generally?

    "The worst moron is the one too stupid to realise they're a moron."

  2. #2
    Junior Member
    Join Date
    Jan 2019
    Did anything ever come from that lawsuit from that diver

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