Tesla will remain a public company, Elon Musk said in a blog post on the company website. He attributed the decision to shareholder sentiment. “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,’” Musk wrote.
Musk said he was advised by Silver Lake, Goldman Sachs and Morgan Stanley on the possibility of going private. He described the process of taking Tesla private as “even more time-consuming and distracting than initially anticipated.” That would serve as a distraction from increasing production on the Model 3, which is part of Musk’s plan for Tesla to become profitable. Musk also said in the post that the process of exploring...
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