The announcement had the effect of a bomb on Wall Street, which suspended the action, when it flew to more than 7%.
Wall Street is panic-stricken on Tuesday and due in large part to Elon Musk. In a few tweets written from 16H48 GMT, the CEO of the company Tesla has put the whole mess by stating that he intended to remove the group of the rating, but that he will remain the CEO. He also assured that he had the necessary funding to carry out the operation.
The information has led to the suspension of the action on Wall Street while she flew of over 7%. She has taken over the scoring a quarter of an hour before the close and finished on a bond of about 11%.
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Shortly before the closing of the stock Exchange, Tesla has finally confirmed that Elon Musk wanted to remove the constructor of the odds but said in a blog post that the final decision will be taken after a vote of the shareholders. “I’m planning to remove Tesla from the Stock 420 ($per share). Assured funding”, displayed at the mid-session on Wall Street the Twitter account certified Elon Musk. At that price, Tesla would weigh more than 71 billion dollars, and would be nearly $ 20 billion more expensive than General Motors, the first u.s. car manufacturer.
What funding ?
This would also be the largest operation of withdrawal of the ratings, which raises the question of funding. Will there be the LBO (leveraged buy out), a financial arrangement which would allow a holding company created specifically to buy back Tesla in borrowing ? In which case, it would be, according to the firm Dealogic, the biggest transaction of business acquisition by LBO, far ahead of the u.s. energy TXU Corp, which had been repurchased by the fund, KKR, TPG and Goldman Sachs in 2007 for $ 44 billion, and who has since become Energy Future Holdings Corp.
A series of stock market information as well as sensitive distilled by a business leader in full-trading session is quite unusual in a country where financial communication is millimétrée, to put investors on an equal footing.
Support of the shareholders
“I do not have a voting rights majority at the moment, but I don’t expect that a shareholder has if we leave the dimension. I will not sell (my securities), regardless of the scenario,” said Elon Musk, who owns about 20% of the share capital of Tesla. In another tweet, he said he had the support of the shareholders.
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Tesla has legions of fans, ranging from the oscar-winning actor Leonardo DiCaprio to rapper Kanye West, and stood out by transforming the car into a “gadget” electronic technology is very advanced. Its driving assistance automatic Autopilot is the subject of investigations by regulators following accidents including some fatal.