Elon Musk says Silver Lake, Goldman advising on taking Tesla private Noor Arora
Tesla Inc Chief Executive Elon Musk on Monday tweeted that he would work with buyout firm Silver Lake and investment bank Goldman Sachs as financial advisers on a proposal to take private the electric car maker. But a source said Silver Lake was offering its assistance to Musk without compensation and had not been hired as a financial adviser in an official capacity. Moreover, Silver Lake is not currently discussing participating in the deal as an investor, the source said. Silver Lake declined to comment. Musk, who is still looking for funding for the plan, also said law firms Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson would be legal advisers on the plan. Musk shocked markets last week with the tweeted announcement that he was considering taking Tesla private for $420 a share, a price that valued Tesla at more than $70 billion, and that he had "funding secured."
ARTICLE SOURCE: BS