Tesla is reportedly putting together a three-person special committee to discuss the proposal to go private. This news follows a letter from CEO Elon Musk describing conversations between the company and the Saudi Public Investment Fund about a potential deal to turn the company private.
Brad Buss, Robyn Denholm, and Linda Johnson Rice will serve on the committee, according to Reuters.
Musk also mentioned that he is now working with financial and legal advisors on a formal proposal.
I’m excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private
— Elon Musk (@elonmusk) August 14, 2018
The Securities and Exchange Commission is investigating Musk’s tweets about taking Tesla private and having “funding secured.” His admission yesterday seems to indicate that bit about financing was overstated.