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Tesla board says it will evaluate Musk proposal to go private

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AFP New York

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.

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First Published: Aug 08 2018 | 7:15 PM IST

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