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Tesla Could Get Bid Above $420 as Board Looks at Take-Private Plan

TheStreet.com
Tesla Could Get Bid Above $420 as Board Looks at Take-Private Plan

"Why didn't we think of this sooner?" That might be the message Tesla Inc.'s (TSLA) board is pondering this week, as the group takes the next steps to advance Elon Musk's take-private plan. Fresh reports say Tesla's board is planning to meet with bankers next week to formalize the plan to take the company private, after Elon Musk dropped the news on Twitter earlier this week. The report also added evidence for what many Tesla-watchers assumed: that Saudi Arabia (which just took a material stake in Tesla) could be the funding source for the deal. The board will likely ask that Elon Musk recuse himself on the take-private vote, much like Michael Dell when he took Dell private back in 2013. Tesla