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Nearly a week after Elon Musk first tweeted a plan to take Tesla private at $420 a share, America's second-tweetiest billionaire finally added some detail to the plan. In a post on Tesla's corporate blog, Musk explained that the Saudi Kingdom Public Investment Fund first approached Musk about taking Tesla private two years ago, and that its oil-funded war chest would be putting up the cash for the transaction.
Musk also said that based on his current estimates, two-thirds of Tesla's current investors would remain in the privatized company, which would dramatically reduce the amount of money needed to take the company private.
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Elon Musk says Saudi fund will back his plan to take Tesla private originally appeared on BGR.com on Mon, 13 Aug 2018 at 13:46:29 EDT. Please see our terms for use of feeds.
Via BRG - Boy Genius Report
Nearly a week after Elon Musk first tweeted a plan to take Tesla private at $420 a share, America's second-tweetiest billionaire finally added some detail to the plan. In a post on Tesla's corporate blog, Musk explained that the Saudi Kingdom Public Investment Fund first approached Musk about taking Tesla private two years ago, and that its oil-funded war chest would be putting up the cash for the transaction.
Musk also said that based on his current estimates, two-thirds of Tesla's current investors would remain in the privatized company, which would dramatically reduce the amount of money needed to take the company private.
Continue reading...
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Elon Musk says Saudi fund will back his plan to take Tesla private originally appeared on BGR.com on Mon, 13 Aug 2018 at 13:46:29 EDT. Please see our terms for use of feeds.
Via BRG - Boy Genius Report