Home Business News Musk ropes in Morgan Stanley for ‘going private’ push

Musk ropes in Morgan Stanley for ‘going private’ push

by Purvai Dua
24th Aug 18 8:33 am

According to Bloomberg souces, Tesla boss Elon Musk has formally hired Morgan Stanley to assist him in his effort to take the automaker private.

Morgan Stanley is advising Musk, not the company, its board or a special board committee formed to to evaluate a potential take-private proposal, the source –who asked not to be identified because the matter is private– told Bloomberg.

Just days after Musk shocked the world with his plans to take Tesla private, analysts are now casting doubts about his claims. There was also a report recently how the Saudi Arabian sovereign wealth fund, the prime candidate to take Tesla private, is considering investing in a Tesla rival. If the reports are true, Musk could be hard pressed to find the $70bn to take Tesla private.

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