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  1. #1 Musk: "I Said "Funding Secured" After Meeting With Saudis", Admits It Wasn't 
    Senior Member Banacek's Avatar
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    Following a weekend of conflicting news between Reuters and Bloomberg, with the former saying the Saudis were not interested in taking Tesla private, while the latter said there were negotiations between Tesla and the Saudi Sovereign Wealth Fund, while some investors sued Tesla for fraud and market manipulation even as the SEC has been sniffing to find out if Musk's "funding secured" tweet was true, moments ago Elon Musk published an damage control update on the Tesla going private transaction.

    In the report Musk says that "on August 2nd, I notified the Tesla board that, in my personal capacity, I wanted to take Tesla private at $420 per share.... My proposal was based on using a structure where any existing shareholder who wished to remain as a shareholder in a private Tesla could do so, with the $420 per share buyout used only for shareholders that preferred that option."

    Musk first explains why he made a public announcement on Twitter:

    The only way I could have meaningful discussions with our largest shareholders was to be completely forthcoming with them about my desire to take the company private. However, it wouldn’t be right to share information about going private with just our largest investors without sharing the same information with all investors at the same time. As a result, it was clear to me that the right thing to do was announce my intentions publicly. To be clear, when I made the public announcement, just as with this blog post and all other discussions I have had on this topic, I am speaking for myself as a potential bidder for Tesla
    https://www.zerohedge.com/news/2018-...unding-secured
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  2. #2  
    Senior Member cadillac shark's Avatar
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    Looks like he's doomed to follow the tire-tracks of Powell Crosley Jr., Preston Tucker, and John DeLorean... into the car-company junkyard. You can't just 'start' producing automobiles without a massive supply-chain.

    Heck, Germany already has a car that recharges itself with solar-plates. But there's no supply-chain. Hence, no investors that can make a difference.
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