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Musk says no final decision on taking Tesla private

Musk said a final decision has not yet been made, but the reason is to create an environment for Tesla to operate best.


Reuters Last Updated at 08 Aug 2018, 01:08 IST United States
Musk says no final decision on taking Tesla private

Tesla Inc Chief Executive Officer Elon Musk said on Tuesday in a letter to employees that he is considering taking the electric car maker private at a price of $420 per share.

Musk said a final decision has not yet been made, but the reason is to create an environment for Tesla to operate best.

"As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders," Musk wrote in the letter https://www.tesla.com/blog/taking-tesla-private?redirect=no.

Trading in the company's shares were halted at $367.25, up 7.4 percent, after Musk tweeted earlier that he was considering taking the company private at $420 per share.

(Reporting by Sonam Rai in Bengaluru; Editing by Arun Koyyur)

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


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