Elon Musk considering taking Tesla private

Elon Musk considering taking Tesla private
Tesla shares jumped after Chief Executive Elon Musk said he’s considering taking the electric car maker private.
Shares climbed more than 7 per cent before the Nasdaq suspended trading pending a formal announcement.

“Am considering taking Tesla private at $420. Funding secured,” Musk said on Twitter, without disclosing the source of the funding.

In a subsequent note to employees, Musk said a final decision had not yet been made.

At $420 per share, it would be the largest deal of its kind, valuing the company at around $80 billion.

Musk has frequently expressed dismay at Tesla’s treatment as a public company and has clashed with regulators, critics and reporters.

Going private is one way to avoid the intense scrutiny of the market.

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