Tesla is reportedly in early discussions with investors about funding to go private (TSLA)


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Tesla is in early discussions with some potential investors about the possibility of taking the company private, Bloomberg reports.
According to the publication, the company is looking for a number of investors, rather than seeking a few, large stakeholders.
The report appears to contrast with tweets from Tesla CEO Elon Musk on Tuesday, in which he said funding to take the company private was “secured” and indicated that a shareholder vote was the final step needed to finish a deal.
According to Bloomberg, sources close to 16 financial firms and technology companies were not aware of backing that was arranged before Musk sent his first tweet.

Tesla is in early discussions with some potential investors about the possibility of taking the company private, Bloomberg reports.

According to the publication, the company is looking for a number of investors, rather than seeking a few, large stakeholders. Tesla has begun discussions with some potential investors and is talking with banks about the whether it will be able to make a deal and what that deal might look like, but it hasn’t hired a bank to formally assist in the process, Bloomberg reports.

The report appears to contrast with tweets from Musk on Tuesday, in which he said funding to take the company private was “secured” and indicated that a shareholder vote was the final step needed to finish a deal. According to Bloomberg, sources close to 16 financial firms and technology companies were not aware of backing that was arranged before Musk sent his first tweet.

Tesla did not immediately respond to Business Insider’s request for comment.

Nearly three days after Tesla CEO Elon Musk said he had secured the funding necessary to take Tesla private, pending a shareholder vote, neither he nor the company has disclosed where that money could come from.

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Source:: Business Insider

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