Tesla CEO Musk taunts short sellers amid legal scrutiny

13 Août, 2018, 09:17 | Auteur: Auguste Feret
  • Who Will Fund Elon Musk's Tesla Takeover? It Could Be Saudi Arabia

The sovereign wealth fund of Saudi Arabia is exploring a way to be a part of taking Tesla private, a Bloomberg report states.

Investors and analysts viewed PIF as a natural financing partner. The Saudi fund hasn't made any firm decisions on whether to increase its stake, or by how much, but talks are ongoing, sources told Bloomberg.

In turn, the fund bought almost US$2 billion (NZ$3 billion) worth of Tesla shares on the market with the help of an investment bank, building up a stake just short of 5 per cent in the company.

Am considering taking Tesla private at $420.

The company has invested US$3.5b in Uber in June 2016, teamed up with Softbank for a US$93b tech fund in May, and pledged to invest about US$1b in Virgin Group's space companies, Virgin Galactic in October.

Pressure is mounting on Musk to produce details of his financing plan.

Reuters reported on August 11 that the PIF has shown no interest so far in financing Musk's proposed deal, while CNBC said on August 9 that Musk previously talked with the Saudi fund about a take-private deal, citing one person familiar with the matter. Tesla did not respond to a request for comment.

New changes announced for upcoming Oscars ceremonies
The biggest Academy Awards audience on record came in 1998 when the blockbuster " Titanic " was named best picture. In 2009, it expanded the number of best picture nominees from five to 10 in a bid to open up the competition.

Ramon Laureano executes 321-foot throw to complete double play
Check it out from a better angle, and you can really appreciate how far of a throw Laureano had to make. On Saturday night, he gave us one of the finest defensive plays of the season.

Grieving Orca Whale Releases Dead Calf After More Than Two Weeks
But on Saturday experts confirmed she had dropped the calf. "Her tour of grief is now over and her behavior is remarkably frisky". But by the time a team from the Centre for Whale Research arrived to take pictures of the newborn, it sadly was no longer alive.

According to Reuters, the separate lawsuits by Kalman Isaacs and William Chamberlain accuse Tesla and Musk of issuing statements that are in violation of securities law, artificially boosting the stock price, and putting a squeeze on short sellers.

Tesla is facing a make-or-break moment in its eight-year history as a public company, as competition from European automakers is poised to intensify with new electric vehicles from Mercedes, Audi, BMW and other rivals.

Musk argued any such move would protect the company from swings in the stock market, and improve Tesla's ability to think long term, as opposed to chasing quarterly targets. Discussions began before the controversial August 7 tweet by Musk, who is Tesla's co-founder and chief executive officer, saying he was weighing a plan to take the company private.

Public Investment Fund of Saudi Arabia was founded to invest on behalf of the government.

Musk has also said he would be looking to keep his ownership of Tesla at around 20 percent in a buyout deal, and that a special goal vehicle, like the one that exists at his aerospace company SpaceX, would allow Tesla shareholders to remain invested if they so choose.

However, the deal structure would come with big logistical and legal challenges when it comes to buying out smaller shareholders, analysts have said.

Conseillé:

  • Body Found at New Mexico Compound Believed to be Missing Black Boy

    Body Found at New Mexico Compound Believed to be Missing Black Boy

    But he said his son and one of his daughters had become "overly concerned" with the idea of people becoming possessed. Commenting on being named an unindicted co-conspirator, Wahhaj argued he was one of 172 people put on a list by U.S.
    Orages: dix départements du Sud-Ouest en vigilance orange dimanche après-midi

    Orages: dix départements du Sud-Ouest en vigilance orange dimanche après-midi

    Les orages s'accompagneront alors de fortes rafales de vent de l'ordre de 80 à 100 km/h, et même au-delà localement. Une dégradation orageuse se généralisera par les Pyrénées, et débordera rapidement vers les plaines.
    Arsenal v Manchester City

    Arsenal v Manchester City

    Manchester City English Premier League opening weekend featured match in the video below, courtesy of NBC Sports . It seemed the goal might open the floodgates, but Cech was in solid form and kept the score down to just one.
  • Manchester City make Emery suffer in his Premier League debut

    City were then nearly gifted a comedic second when Cech's attempted pass to Mustafi rolled past his post and out for a corner. Ederson is expected to replace Claudio Bravo in goal after the Chilean started City's Community Shield win over Chelsea .
    Tsitsipas défiera Nadal en finale — Toronto

    Tsitsipas défiera Nadal en finale — Toronto

    Nadal décroche par ailleurs le 33e Masters 1000 de sa carrière, record absolu dans cette catégorie de tournoi. C'est la quatrième fois que Nadal s'impose sur le ciment canadien après des succès en 2005, 2008 et 2013.
    Sark preparing to see meteor shower

    Sark preparing to see meteor shower

    Rupinder Brar says the annual Perseid meteor shower will be visible Saturday night, early Sunday morning and Sunday night. Others are brighter and can appear to sail across our sky for several seconds, leaving a glowing smoke trail.
  • Un homme en garde à vue après la dégradation homophobe d'une plaque commémorative — Paris

    L'individu, Christophe M., sera jugé devant le tribunal correctionnel en janvier 2019 pour dégradation de bien d'utilité publique. Il a été placé sous contrôle judiciaire en attendant son jugement.
    Dwyane Wade clowns ex-teammate Kendrick Perkins

    Dwyane Wade clowns ex-teammate Kendrick Perkins

    Wade said there is "no clock" on his decision. "If I play the game of basketball this year it will be in a Miami uniform. But there are other things that come into play that I have to talk about and I'm sure UD has to talk about on his own.
    Ten in hospital after Manchester shooting

    Ten in hospital after Manchester shooting

    A carnival in the area had finished some hours before the incident, it was reported. TEN people have been injured after a shooting incident in Manchester .
  • CPL: Andre Russell breaks records as Jamaica Tallawahs beat Trinbago Knight Riders

    CPL: Andre Russell breaks records as Jamaica Tallawahs beat Trinbago Knight Riders

    The 100 came up in just 40 balls, making it the fastest ever CPL T20 century that also contained a record 13 sixes. The rest is history. (2) Trinbago Knight Riders v St Kitts & Nevis Patriots (8pm), Queen's Park Oval.
    Hundreds injured in anti-government protest in Romania

    Hundreds injured in anti-government protest in Romania

    Several journalists, including an Austrian public television ORF cameraman, said they were attacked with tear gas by riot police. People shine the lights of their mobile phones during a protest outside the government headquarters in Bucharest .
    England vs India 2nd Test, Day 3: Hosts lose openers Jennings, Cook

    England vs India 2nd Test, Day 3: Hosts lose openers Jennings, Cook

    That partnership helped England recover from a top-order collapse that saw them slump to 89 for four at lunch on the third day. England outclassed India by an innings and 159 runs to win the second Test at Lord's on Sunday.


Populaire

Turkey pledges lira action to calm markets
He also branded interest rates as a "tool of exploitation" which should be kept as low as possible. Erdogan called the tariffs "missiles" in an economic war being waged against Turkey .

China’s CNPC ‘takes over Total’s share in big Iran gas project’
CNPC has been active in Iran since 2004, operating in oil, gas and oil-field services, according to the company's website. Terms of the contract have not yet officially changed, though, according to Shana, the oil ministry's official news site.

Isabela Moner dévoile une première photo #DoraTheExplorer — Dora the Explorer
"Je suis honorée et excitée de donner vie à Dora", se réjouissait Isabela Moner comme le rapporte Allo Ciné . En août 2019, Dora l'exploratrice prendra forme humaine pour le cinéma.

Turkey’s Erdogan stands by opposition to high interest rates
President Donald Trump broke the news on social media that he authorized the doubling of existing steel and aluminum duties on imports from Turkey.

What Brooks Koepka said after winning the 2018 PGA Championship
Woods and Koepka played nine holes of a practice round on Wednesday, and the 14-time major champion knew what he was up against. Eastern tee time, begins the day at 8-under and is one of 10 golfers within range of Brooks Koepka , the leader at 12-under.

U.S. tariffs hike adds to Turkey's economic problems
On Friday the currency dropped as much as 18% at one point, the biggest one-day fall since a 2001 financial crisis in Turkey. The dollar eased against the safe haven yen to 110.65, but was a shade firmer against a basket of currencies at 96.388.

Tiger Woods is making weirdest PGA Championship charge
The Kiwi sits in a tie for 28th at four-under through three rounds after carding a two-under round of 68 on Sunday (NZ time). Woodland's 36-hole score broke the PGA record by one shot, most recently set by Jimmy Walker and Robert Streb at Baltusrol.

Unai Emery confirms new Arsenal captain
Manchester City and Arsenal faced off in the final fixture of the opening game week of the new Premier League season as Unai Emery was pitted against Pep Guardiola in his first ever competitive game as Arsenal manager.

Sterling shines on Manchester City return
Going forward, things were made particularly hard for him by the absence of a natural left-back to lend him support. Manchester City kicked off the defence of their title with a classy 2-0 victory over Arsenal on Sunday afternoon.

Cousins shines as Vikings beat Broncos 42-28
Broncos S Jamal Carter (hamstring), CB Marcus Rios (hip) and TE Austin Traylor (right shoulder) got hurt. Thomas caught two touchdowns, including this 78-yard screen pass from quarterback Trevor Siemian.