Musk has 22.3 million followers on Twitter, and Tesla's share price was already rising after the Financial Times reported that Saudi Arabia's sovereign wealth fund had taken a $2bn stake in the company.
Most analysts were skeptical, but some said a deal could materialize if Musk succeeded in lining up the right funding. The statement did not address how the $420-per-share price was established.
Teresa Goody, a former SEC official, said Musk "did something inappropriate and caused chaos in the market" in a way that would likely draw scrutiny from investigators.
Public companies have four days o report certain material events that shareholders should know about to the U.S. Securities and Exchange Commission.
Tesla's shares were down less than one per cent at $376.31 USA in morning trading on Wednesday after closing up 11 per cent at $379.57 U.S. on Tuesday. The talks covered both the reasons for doing so - which Musk also laid out in an email to employees that was subsequently posted online - as well as the funding.
But as the dust settles on Musk's latest Twitter escapade, questions remain over whether the Tesla chief executive broke SEC guidelines by tweeting the news.
Trump going ahead with tariffs on $16B in Chinese imports
The Semiconductor Industry Association expressed disappointment at USTR's decision to keep the sector on the tariff list. Chinese state media, reflecting the government's stance, has said China will not be cowed in the face of USA threats.
Two of the potential stumbling blocks to Musk's plan include the stock price premium not being enough to get the existing shareholders on board to support the sale and coming up short on the announced funding to complete the transition.
The deal would be the biggest leveraged buyout of all time, beating the $45-billion record set by Texas power utility Energy Future Holdings.
His message followed a report that a Saudi investment fund had taken a almost 5% stake in Tesla. That last part is important, because Tesla's going to need a lot of it. "I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible".
On Wednesday, Tesla's board said it was evaluating the proposal. "Finally, as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company".
Musk's proposed move is seen as a strategy to avoid several issues: Wild stock swings, short-sellers who profit on stock value drops and shareholder pressure on quarterly performance, according to the Financial Times.
Names excluded from the board statement were Musk; his brother, Kimbal Musk; and Steve Jurvetson, a venture capitalist and early Tesla backer who's been on leave since a year ago.
The astronauts were divided into smaller crews assigned to work on test flights and first missions to the worldwide space station. On Friday, NASA revealed the nine astronauts that will fly on Boeing and SpaceX's first crewed launches.
There are fears the death toll will keep rising as rescuers step up the search of damaged or destroyed homes, schools and mosques. A number of mosques on that island have collapsed with worshippers inside them. "Many of us screamed hysterically".
Yesterday, students of various schools and colleges started controlling traffic in Dhaka for the eighth consecutive day. Alam was screaming as he was forced into a auto , it quoted security guards at the building as saying.
He also said he may have submitted personal expenses for reimbursement by Trump's inaugural committee, which he helped operate. In another heated exchange, Downing tried to press Gates into explicitly saying that he had embezzled money from Manafort.
But he says any deal would be structured so that shareholders could opt to remain investors or be bought out at $420 per share. If Musk were to make good on his tweet, it is unclear from where he could secure funding to buy out Tesla's shareholders.
Notably, the rear camera will be able to record super slow-mo videos at 960fps for twice as long as the Galaxy S9 duo. According to South Korean outlet, The Bell , Samsung is said to include a 3D camera on the purported Galaxy S10.
The sixth round was no better for Alvarez, though, as Kovalev pushed ahead and scored with powerful hooks and body punches. Alvarez rocked Kovalev with a huge right hand that sent the champ staggering backwards and down to the mat.
Chinese officials are trying to reassure markets and the local population that the US moves would have little impact. The deficits between the United States and Trump's main trade adversaries are also growing.
The DC Comics character is set to make her debut during this year's Arrowverse crossover event, which was announced in May. Australian film star Ruby Rose will be suiting up as the DC hero Batwoman for the USA network The CW, Variety has learned.
Subtropical Storm Debby develops in the Atlantic
Meanwhile, Subtropical Storm Debby formed far out over the north Atlantic, but it was expected to be a short-lived storm. A Tropical Storm Warning means that tropical storm conditions are expected somewhere within the warning area.
New York Congressman Arrested On Insider Trading Charges
All three defendants were in federal custody Wednesday and were expected to make their initial court appearance in the afternoon. When the drug trials failed, the public announcement caused the stock price of Innate to plunge 92 percent.
Bill Belichick Marvels At Success Of 2018 Red Sox
Red Sox: LHP Drew Pomeranz (1-5, 6.56) is slated to start the opener of a nine-game road trip Tuesday in Toronto. Boston posted the quartet of victories despite a slew of injuries to key players, including ace Chris Sale .