Holy shit. If the following qoute is to be believed, it's almost certainly the Saudis backing it since I don't know who else has that kind of money and also considering the Saudis hit the 5% investment mark which requires you to announce it at the perfect moment. Shit, with tsla dropping back down now and elon being quit, i think it helps the case more that it is them because I would want them to have the full opportunity to buy as much stock now while it is below 420$ before the buyout is confirmed.
"Musk previously talked with Saudi Arabia's sovereign wealth fund about a take-private deal, said one of the people. Saudi's Public Investment Fund bought a 3 percent to 5 percent stake in the electric car maker, The Financial Times reported earlier this week. It isn't yet known whether Saudi's Public Investment Fund has agreed to commit money to the transaction."
Hear me out. VW announced $25B worth of batteries secured in March then followed up with an increase to $48B in May. The $25B went to Samsung SDI, LG, and Contemporary Amperax.
Whoever it is, Musk said that no one would have majority control. So it wouldn't be a takeover unless it was hostile. The recent action on the stock has made a hostile takeover, particularly by the Saudis, more possible because of the sheer number of shares available in the market. But if that was happening I don't think the stock would have dropped the way it did today.
Motivation has any of the big car companies, if US, German, French or Japanese. Saudi money is in many of them, esp. Daimler.
Killing electric cars happened before, and most likely is the main goal here. They are certainly worried to death.
You don't joke about things that affect your companies stock price when you are the CEO and own 20% of said stock. He will face massive fines and possibly go to jail if he cannot reasonably back up his claims (like if it was a joke).
The reason why I don't believe they need a 70 billion dollar deal, is that Elon doesn't plan on buying himself out! And if they take the same structure as SpaceX, I would expect at least half of current shareholders to stay in the company, as well as most employees. That would then require 20-30 billion, on the high end. Far more feasible and a great strategy, really. Everyone's that's long stays, everyone that's medium to short term gets a nice bonus with the 420 payday, Every short dies, if everything goes as planned.
Can anyone explain to me how if it's true that the Saudis are backing the buy out it would not be a case of insider trading? The way I understand it the Saudis announced they bought a 5% stack the morning that musk announced that he plans to take the company private (presumably with Saudi money) so wouldn't the Saudi's 5% stake have been purchased with the "inside information" that a going "private" announcement was imminent?
Readit News
"Musk previously talked with Saudi Arabia's sovereign wealth fund about a take-private deal, said one of the people. Saudi's Public Investment Fund bought a 3 percent to 5 percent stake in the electric car maker, The Financial Times reported earlier this week. It isn't yet known whether Saudi's Public Investment Fund has agreed to commit money to the transaction."
Hear me out. VW announced $25B worth of batteries secured in March then followed up with an increase to $48B in May. The $25B went to Samsung SDI, LG, and Contemporary Amperax.
Leaving $23B unnacconted for.
https://cleantechnica.com/2018/05/04/volkswagen-doubles-ev-b...
No, it can't. Even if 100% of cars and trucks were electric, Saudi crude wouldn't be worthless.