Tesla board of directors evaluate Musk's privatisation plan

Investor's Corner					Tesla board to formally review Elon Musk’s plan to go private TSLA reacts after hours

The current value of Tesla's shares stands at around $370 so a buyout at $420 would represent a roughly 20% premium at buyout, a defiantly tempting offer to get shareholders to sell their shares. Musk has feuded publicly with regulators, critics, short sellers and reporters, and some analysts suggested that less transparency would be welcomed by Musk. Tesla is and probably always will be a company that will remain underneath the spotlight, so nearly any actions taken by the company itself or Elon Musk as an individual or CEO will have adverse effects on its stock price.

Former SEC Chairman Harvey Pitt went on CNBC Tuesday to say his tweets "might constitute fraud if any of the facts he disclosed are not true".

Short-sellers, who had racked up paper losses of $1.3 billion on Tuesday, have since recouped about a $1 billion, S3 Partners reported.

Follow Tesla's stock price in real-time here.

Musk, who normally doesn't shy away from social media, didn't tweet about the subject Thursday. People with or close to 15 financial institutions and technology firms who spoke on the condition of anonymity said they weren't aware of financing having been locked in before Musk's tweet. The rule was an extension to a 2008 SEC ruling that allowed public companies to make important announcements to investors.

The news comes two days after Musk, Tesla's CEO, announced via Twitter that he's considering taking the company private at $420 per share. SEC enforcement attorneys in San Francisco have begun gathering information on Tesla; however, this could end up leading to nothing.

Woakes and Bairstow grind India into the Lord's dirt as England dominate
Anderson finished with five for 20, but he hailed the contribution of Chris Woakes , who took two wickets including the key... Chris Woakes hit his maiden Test century as England hammered home their advantage over India in the second Test at Lord's .

"Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible", Musk wrote in the letter.

Musk has promised to begin making money on a consistent basis starting in the third quarter, escalating the pressure that he has already publicly acknowledged has taken an huge toll on him.

Another day has passed since Tesla chief executive officer Elon Musk nonchalantly claimed on Twitter that he had secured funding to take the firm private, and still no evidence has emerged to support his claim.

Tesla's board is forging ahead with its review of Elon Musk's bold and ambiguous gambit to take the electric-vehicle maker private.

Some on Wall Street shared that view. The board, which said Wednesday that there had been discussions of going private, has also not seen any plans, Reuters reported. "So it'd have to be equity, and there's not enough stupid money to buy this company at an $80 billion valuation".

Tesla needs cash for its $2 billion factory in China, to open more stores and to pay off the debt that's coming due in the next eight months. This deal to take Tesla into a private could lead to a rave of fees for the Wall Street.

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