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Tesla board says it will evaluate Musk proposal to go private

AFP  |  New York 

Tesla's board of directors said today it will evaluate Elon Musk's proposal to take the 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 and saying he could finance the buyout at a large premium to current valuation, at a price of $420 a share.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 08 2018. 19:15 IST