Tesla braced for a big hit from legal claims following Musk’s Twitter gaffe August 16, 2018 Tesla’s legal team is bracing itself for a number of potential legal claims following an uproar caused by Elon Musk’s disclosures on Twitter that he was considering taking the company private. Fox News reported that the legal team for the controversial CEO was preparing itself for the costs of private litigation to exceed any fine [...]
Tesla boss says Saudis want to support buyback August 13, 2018 Elon Musk said today that he is in talks with Saudi Arabia’s Public Investment Fund (PIF) about taking Tesla private, but admitted that the exact sources of funding have not been confirmed. Musk said in a blog post that the PIF’s managing director had expressed “strong support for funding a going private transaction for Tesla” [...]
Musk confirms Saudi sovereign fund as Tesla’s primary source of buyback funding | City A.M. August 13, 2018 Tesla’s chief executive Elon Musk confirmed today that he’s in talks with Saudi Arabia’s Public Investment Fund (PIF) for taking Tesla private but no funding has been secured yet. Musk revealed in a blog post this afternoon that the PIF’s managing director had expressed “strong support for funding a going private transaction for Tesla” at [...]
To go private, or stay public? Everything you need to know about Tesla’s big share buyback August 13, 2018 Who's looking to cash in on Tesla? Will Elon Musk keep his cool? What do the regulators think? Here's everything you need to know about the current status of Tesla going private. What's happened so far? On Tuesday last week, chief executive Elon Musk sent out a tweet saying that he is considering taking Tesla [...]
Tesla in legal row with investors over Elon Musk’s plan to go private | City A.M. August 13, 2018 Tesla is facing a barrage of lawsuits from investors angry at founder Elon Musk’s shock proposal to take the company private at $420 (£329) a share. The colourful entrepreneur dropped the bombshell on social media last week, claiming that funding for the move had been secured, driving shares up 11 per cent before its price [...]
Legal row over Musk’s tesla plan: Here’s how the industry reacted August 12, 2018 Tesla is facing a barrage of lawsuits from investors angry at founder Elon Musk’s shock proposal to take the company private at $420 a share. The colourful entrepreneur dropped the bombshell on social media last week, claiming that funding for the move had been secured – driving shares up 11 per cent before its price [...]
Elon Musk hit by fresh lawsuits over Tesla share price rigging claims | City A.M. August 11, 2018 Tesla and its billionaire chief Elon Musk were hit by two new lawsuits yesterday, over claims that Musk’s surprise proposal to take the company private was scheme designed to target short-sellers of Tesla stock. Musk announced on Twitter earlier this week that he was considering taking the electric carmaker private at a share price of [...]
Apple re-hires Tesla’s ex-engineering chief for its self-driving car unit | City A.M. August 10, 2018 Tesla’s former chief of engineering Doug Field has landed on his feet – back at his old firm Apple. Field will be joining Apple to work on its self-driving car unit Project Titan, which until recently was shrouded in relative secrecy. He previously worked at the firm on engineering Apple’s Mac computers, alongside Titan’s current [...]
Softbank held talks with Elon Musk about taking Tesla private in 2017 | City A.M. August 9, 2018 Tesla’s chief executive Elon Musk met the head of Japanese mega-investor Softbank in 2017 to discuss a potential investment in the company, including the possibility of taking it private. Masayoshi Son held talks with Musk in April last year on the matter, but discussions on taking Tesla off the public stock market failed to progress [...]
Chinese tech stocks rise as its national leadership group gets an overhaul | City A.M. August 9, 2018 Technology stocks in China rose overnight after Beijing said it has revamped its national leadership group for the sector. Tasked with doing the research and planning for China’s government strategy on tech, the former National Technology and Education Leadership Group has now had the “education” dropped from its name to represent a narrowed focus from [...]