Tesla Inc.'s (TSLA) board has formed a special committee to evaluate the potential take-private deal that Chairman and CEO Elon Musk so openly covets.
Tesla shares slid roughly 1% in early trading.
The board members on the committee are Brad Buss, Robyn Denholm and Linda Johnson Rice, according to a report from CNBC.
Musk tweeted late Monday, Aug. 13, that he was working with Goldman Sachs Group Inc. (GS) and Silver Lake Capital Partners, as well as two law firms, as advisers for a deal. "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," he tweeted.
Musk wrote a blog post on the Tesla website Monday saying that Saudi Arabia was interested in being a part of a transaction, and that he would be part of the buying group. Musk claimed to have addressed key issues, many of which are legal issues, but it was still unclear whether or not those issues had been addressed.
After Musk's initial tweet a week ago saying he wants to take Tesla private at $420 a share, and that funding was secured, there was silence from both Musk and Tesla for a few days. But now there are murmurings of a deal. Meanwhile, the Securities and Exchange Commission said it was inquiring about the deal, and some short-sellers have filed lawsuits.