Musk backs away from plan to take Tesla pri­vate

The Fresno Bee (Sunday) - - News -

Elec­tric car and so­lar panel maker Tesla Inc. will re­main on the pub­lic stock ex­changes af­ter CEO Elon Musk said Fri­day that in­vestors have con­vinced him the com­pany should not go pri­vate.

The some­times er­ratic CEO wrote in a late-night state­ment that he made the de­ci­sion based on feed­back from share­hold­ers, in­clud­ing in­sti­tu­tional in­vestors, who said they have in­ter­nal rules lim­it­ing how much they can sink into a pri­vate com­pany.

Musk wrote that he told the com­pany’s board on Thurs­day that he thought the com­pany should stay pub­lic and the board agreed.

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