musk: The board, it said, had met several times over the last week and was actively working to evaluate the proposal, according to The Toronto Star. Tesla CEO Elon Musk tweeted Tuesday that he has financing to take the electric-car maker private for 420 U.S. a share. robyn beck / Agence France-Presse But the board offered no further details of the proposal or its funding, sparking new questions about the feasibility of the master gambit Musk revealed in a surprise series of midday tweets on Tuesday. Tesla's board, a nine-member group that includes Musk's younger brother Kimbal, issued a belated statement Wednesday morning saying Musk had opened a discussion last week with the board about the benefits of taking Tesla private. This is out there, even for Tesla, analysts with Barclays wrote Wednesday. Why announce it to the world in this way ... which could significantly contribute to the required premium and leverage Jonas said. Read more Elon Musk says he may take Tesla private and shares soar Article Continued Below For Tesla's Elon Musk, Twitter is sword against short sellers Tesla's 2Q on way to record net loss after burning through 739 million In a note to clients, Morgan Stanley analyst Adam Jonas said Musk's strategy to reveal the offer on Twitter might end up costing him in higher costs and financial risk.
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