Business

IT'S OFFICIAL: Goldman Sachs is advising Elon Musk on his plans to take Tesla private

11 monthes ago   |   By Business Insider

Kiichiro Sato/AP
Goldman Sachs is working with Tesla on its bid to go private, the bank confirmed Wednesday.
It's still unclear if there was a formal agreement when Elon Musk tweeted about working with the Wall Street firm.
Follow Tesla's stock price in real-time here.
Two days after Elon Musk said he was " excited to work with Silver Lake and Goldman Sachs as financial advisors" in his bid to take Tesla private, at least half of the tweet has been confirmed.
In a note to clients Wednesday, Goldman Sachs said it was suspending research coverage of Tesla because it is "acting as a financial...
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Tesla sinks after report the SEC has issued subpoenas about Elon Musk's 'funding secured' tweet

Tesla sinks after report the SEC has issued subpoenas about Elon Musk's 'funding secured' tweet

11 monthes ago   |   By Business Insider

Fred Prouser / Reuters
The Securities and Exchange Commission has issued formal subpoenas to Tesla, Fox Business reported Wednesday.
Shares of Tesla sank by as much as 4% following the report.
Follow Tesla's stock price in real-time here.
Shares of Tesla sank as much as 4% in trading Wednesday as the flurry of news surrounding Elon Musk's plan to take his electric car maker private continued.
Fox Business reported Wednesday that the US' top equities regulator, the Securities and Exchange Commission, had issues subpoenas to Tesla regarding its privatization plans and Musk's "funding...
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The SEC reportedly sent subpoenas to Tesla concerning Elon Musk's tweets about taking Tesla private

The SEC reportedly sent subpoenas to Tesla concerning Elon Musk's tweets about taking Tesla private

11 monthes ago   |   By Business Insider

Getty Images/Joshua Lott
The Securities and Exchange Commission has sent subpoenas to Tesla concerning the company's plans to explore going private and CEO Elon Musk's statements about the process, Fox Business reports.
Fox Business reporter Charles Gasparino said on Twitter that sources suggested the agency was moving into a formal investigation of Tesla. See the rest of the story at Business Insider NOW WATCH: Why the Chase Cards CEO is not worried about the hundreds of millions lost last quarter due to credit card rewards See Also: Elon Musk may only face a minor fee if the SEC...
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SEC Subpoenas Tesla Over Musk's Take-Private Tweet: Report

SEC Subpoenas Tesla Over Musk's Take-Private Tweet: Report

11 monthes ago   |   By Jalopnik

The Securities and Exchange Commission is reportedly ramping up its investigation into Tesla and CEO Elon Musk's bid to take the company private, including his statements that he had “funding secured” to make it happen.
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Elon Musk may only face a minor fee if the SEC investigates his tweet storm about taking Tesla private - here's why

Elon Musk may only face a minor fee if the SEC investigates his tweet storm about taking Tesla private - here's why

11 monthes ago   |   By Business Insider

Rashid Umar Abbasi / Reuters
Tesla and its CEO, Elon Musk , aren't likely to face more than a small fine or stern warning if the SEC ends up launching an investigation and bringing an enforcement action against Musk or the company, Nimish Patel, a partner at the law firm Mitchell Silberberg & Knupp who specializes in corporate and securities laws, told Business Insider.
By first offering details for a potential go-private deal via Twitter, Musk followed the spirit of the SEC's rules about disclosing important information, Patel said.
And unless the agency finds that Musk purchased Tesla...
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