Tesla: Board Meeting and Musk

tesla: In a statement on Friday night Musk announced he had decided against the move based on feedback from shareholders, including institutional investors, who said they had internal rules that limited the stake they could hold in a private company, according to The Guardian. Tesla Tesla Staying Public 25, 2018 The plan was cancelled after a board meeting on Thursday, Musk said. The electric carmaker's founder shocked investors earlier this month after tweeting that he was considering taking the company, which floated in June 2010, private. Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, in a nutshell, was please don't do this', he wrote in the blog post. In his tweet announcing the move, which was written while he was driving to the airport, he said funding had been secured for the deal. Musk initially considered privatisation because he said it would avoid the short-term pressures of reporting quarterly results. (news.financializer.com). As reported in the news.