Thread: Elon Musk - going private is one way to avoid the intense scrutiny of (the) public

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Elon Musk says he wants to take Tesla private at $US420 a share



Tesla's chief executive Elon Musk has announced, in a series of Twitter posts, that he wants to take the company private, resulting in a jump in the share price.

Key points:

• Elon Musk says Tesla will operate more "smoothly" as a private company
• If Tesla was to be privatised, it would be the largest deal of its type
• At $US420 per share, a deal would be worth $US72 billion overall

If that were to occur, it would be the largest deal of its type — moving the electric car maker out of the glare of Wall Street as it goes through a period of rapid growth under tight financial constraints.

"Am considering taking Tesla private at $[US]420. Funding secured," Mr Musk said on Twitter.

"Investor support is confirmed. Only reason why this is not certain is that it's contingent on a shareholder vote."
Asked whether he would continue to be CEO under such a scenario, Mr Musk replied there would be "no change".

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Elon Musk ... doesn't play well with others.