In a few weeks ago Elon Musk the CEO of Tesla an automaker company stated that he was ready to take the company private at $420 per share. More so Elon assured that funding was already secured and all he needed was an investor approval to make that step.
However, Tesla will not be going private again, according to the latest tweet from Musk. A blog post from the Elon Musk stated that they would not be making Tesla private he just wanted to know whether current investors and board of directors believe if “it would be a good strategic move and whether they would want to participate in a private Tesla.
In talking to our public investors, most were supportive of optimizing for long-term value creation over quarterly earnings. This was also a factor in remaining public.
— Elon Musk (@elonmusk) August 25, 2018
Shareholders stated their firm belief in the company better off as a public company. However, even if they went private, it would have taken a fortune also to make it possible. Many factors would have come into play including the interest they have to pay existing shareholders with all the incoming interest to fund a go-private transaction.
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