Tesla's board of directors said today it will evaluate chief executive Elon Musk's proposal to take the electric car maker private.
After Musk last week raised the idea as a better solution for Tesla's long-term growth, directors met "several times" and "is taking the appropriate next steps to evaluate this," the board in a brief statement issued before the stock market opened.
Musk jolted markets Tuesday by announcing the proposal on Twitter and saying he could finance the buyout at a large premium to current valuation, at a price of $420 a share.