U.S. Markets closed

Musk's Go-Private Proposal to Be Pored Over by Tesla's Board

Dana Hull, David Welch
Musk's Go-Private Proposal to Be Pored Over by Tesla's Board

Tesla Inc.’s board is forging ahead with its review of Elon Musk’s bold and ambiguous gambit to take the electric-vehicle maker private. Directors plan to meet financial advisers next week and are likely to tell Chairman Elon Musk to recuse himself while they mull his proposal, CNBC reported Thursday, citing unidentified people familiar with the matter. A special committee of independent directors will likely review the details, and the board has told Musk -- who owns 20 percent of the company -- that he needs his own separate advisers, the news outlet said.