CBJ — Tesla CEO Elon Musk has once again created a stir in the marketplace on word he is looking to take the electric car maker private.
Based on acquiring each share at $420, the the plan includes a $72 billion buyback of outstanding shares, which have been trading on the stock market for the past eight years.
Musk first made his intentions known on his Twitter account and sent out to his 22.3 million followers.
Under the plan Tesla’s existing shareholders the option of retaining a stake in the company through a special fund, if they so choose.
Shared from The Canadian Business Journal
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