 "Tesla")
Electric vehicle maker Tesla Inc on Friday proposed a three-to-one stock split, making its shares more affordable following recent sell-offs of the most valuable automaker.
The company also said Oracle Corp co-founder Larry Ellison, a friend of Tesla Chief Executive Officer Elon Musk, will not stand for re-election to Tesla's board when his term ends at this year's shareholder meeting.
Ellison is among the top investors who have promised funding toward Musk's $44 billion acquisition of social media firm Twitter Inc.
Shares of Austin, Texas-based Tesla rose more than 1% in extended trading on Friday. They have fallen nearly 40%
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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