https://www.autoblog.com/2018/08/08/tesla-board-statement-musk/
twitter musings that he could
were supported Wednesday morning by a statement from
board of directors. Issued about half an hour before the markets opened, the six-member board confirmed that Musk had broached the subject last week and that the group had subsequently met several times to discuss Tesla’s options.
The statement reads:
“Last week, Elon opened a discussion with the board about taking the company private. This included discussion as to how being private could better serve Tesla’s long-term interests, and also addressed the funding for this to occur. The board has met several times over the last week and is taking the appropriate next steps to evaluate this.”
It was signed by Tesla board members Brad Buss, Robyn Denholm, Ira Ehrenpreis,
,
and
.
Tesla shares skyrocketed yesterday
when Musk tweeted he was considering taking the company private at the price of $420 per share and said he had funding already arranged. The Tesla chief argued this would allow the company to execute its long-term strategy away from market pressures and investor scrutiny. In a series of following tweets Musk said a private Tesla would still respect shareholders and that he hoped they would remain with the company. He also said the move would require board approval.
The California electric carmaker has struggled with profitability and manufacturing issues this year as it aims to hit ambitious targets and meet strong consumer demand.
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August 8, 2018 at 09:20AM