Elon Musk's SpaceX tender offer is said to value company at $140 billion

Elon Musk’s SpaceX is offering to sell insider shares at a price that would raise the closely held company’s valuation to about $140 billion, according to people familiar with the matter.
 

Space Exploration Technologies Corp., as the company is formally called, is offering the shares for $77 apiece, said the people, who asked not to be identified because the information wasn’t public.

The $140 billion figure compares with a $127 billion valuation in July, according to data provider PitchBook.
 

In recent weeks, SpaceX had held conversations for a range of prices but ultimately settled on $140 billion for the valuation in a tender offer, the people said. It couldn’t be immediately learned whether the company will seek to raise capital in a primary funding round at that valuation.
 

A representative for SpaceX, the most valuable private company in the US, didn’t immediately respond to a request for comment. SpaceX, based in Hawthorne, California, dominates the market for commercial space launch.

Tesla stock trades at lowest ever level
 

Tesla shares are trading at their cheapest-ever level, as the electric-car maker’s stock slumps more than 50 per cent this year.  
 

Chief Executive Elon Musk’s focus on his recent acquisition of Twitter is among a few headwinds the stock faces, with some bears saying that the world’s most valuable automaker should see more declines. 
 

Tesla is now trading at 30 times projected earnings, its lowest ever, and well above the benchmark S&P 500 Index’s 17 times forecast earnings.

Meanwhile, the company is grappling with a broad array of challenges, including the risks from its billionaire CEO’s association with Twitter to falling demand in China, the world’s largest car market. Reuters