Tuesday, 14 August 2018

Tesla directors: Elon Musk 'No formal proposal' to take company private

Tesla has not received a formal proposal from its founder Elon Musk to take the company private, its board of directors has said.

The electric carmaker said it had created a special committee of three directors to evaluate any such proposal.

Mr Musk announced on Twitter on 7 August that he was considering taking Tesla private.

On Monday, he said financing had been discussed with Saudi Arabia.

"The special committee has not yet received a formal proposal from Mr Musk regarding any 'going private transaction' nor has it reached any conclusion as to the advisability or feasibility of such a transaction," the company said.
Board members Brad Buss, Robyn Denholm and Linda Johnson Rice will sit on the committee.

BBC      News.

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