Aug 14, 2018

Elon Musk names advisers for Tesla's take-private plan

Tesla CEO Elon Musk. Photo: by Joshua Lott/Getty Images

Tesla CEO Elon Musk disclosed the law firms and financial advisers, including Goldman Sachs, that will work with him on his newly-announced plan to take his electric automaker Tesla private.

Why it matters: Naming the team enables Musk to claim a tangible step in what remains a vague and uncertain proposal to buy out Tesla at $420-per-share.

  • It could also help undermine the suspicion that he had invented the existence of financiers.

The intrigue: Reuters, citing a source familiar with the matter, reports that Silver Lake — a technology investment firm — is working with Musk for free and hasn't been hired in an "official capacity."

  • A Tesla spokesman tells Bloomberg that Musk's tweet refers to his own advisers and attorneys.

The Monday night Twitter announcement follows Musk's blog post earlier in the day confirming discussions with Saudi Arabia's sovereign wealth fund, which recently acquired a nearly five percent stake in the company, about financing the deal.

  • However, the post describing the Saudi interest and discussions last week did little to show that Musk has "secured funding" for the transaction, which he claimed last week.

Editor's note: This story has been edited include Tesla's assertion that the firms are working with Musk personally.

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Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Buttigieg campaign claims Nevada caucuses were "plagued with errors"

Photo: Win McNamee/Getty Images

Pete Buttigieg's campaign wrote a letter on Sunday asking the Nevada State Democratic Party to release early vote and in-person vote totals by precinct and address certain caucus errors identified by campaigns, The Nevada Independent reports.

The big picture: The campaign alleges that the process of integrating early votes on caucus day was “plagued with errors and inconsistencies,” and says it received more than 200 incident reports from precincts around the state.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Coronavirus threat grows, threatening some drug supplies

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

As the novel coronavirus continues spreading globally and China grapples with a limited production capability, there's a growing risk to about 150 prescription drugs in the U.S., sources tell Axios.

The big picture: The coronavirus has spread to more countries, with both South Korea and Italy stepping up emergency measures amid rising case numbers on Sunday. COVID-19 has killed at least 2,467 people and infected almost 79,000 others, mostly in mainland China.

Go deeperArrowUpdated 3 hours ago - Health