image: REUTERS/Aaron P. Bernstein

Tesla board evaluating CEO Musk’s idea to take company private

August 8, 2018

Via: Reuters

(Reuters) – Tesla Inc (TSLA.O) said on Wednesday its board is evaluating Chief Executive Elon Musk’s idea of taking the company private after he brought the matter up for discussion last week.

Musk took Tesla shareholders and the stock market by surprise on Tuesday by announcing on Twitter he was considering taking the loss-making electric car-maker private at $420 a share. In his first tweet he said funding was secured but provided no details.

That would mark the biggest such transaction in history, worth more than $70 billion.

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