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Message
re: Elon Musk is out at Tesla
Posted on 9/30/18 at 12:16 am to HoustonGumbeauxGuy
Posted on 9/30/18 at 12:16 am to HoustonGumbeauxGuy
quote:
Summar?
cut and paste bc I'm lazy tonight:
quote:
"Musk tweeted on August 7, 2018 that he could take Tesla private at $420 per share — a substantial premium to its trading price at the time — that funding for the transaction had been secured, and that the only remaining uncertainty was a shareholder vote," regulators said on Saturday.
However, "in truth, Musk knew that the potential transaction was uncertain and subject to numerous contingencies. Musk had not discussed specific deal terms, including price, with any potential financing partners, and his statements about the possible transaction lacked an adequate basis in fact," they added.
On the day Musk made the surprise announcement, Tesla's stock surged by over six percent — catching off guard the bearish class of investors with whom the billionaire has crossed swords in the past.
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