Photo: Bloomberg
Photo: Bloomberg

Elon Musk hires Morgan Stanley to help take Tesla private

By hiring both Goldman Sachs Group Inc. and Morgan Stanley, Musk has tied up the top two merger advisers in the US this year.

San Francisco: Elon Musk has hired Morgan Stanley to assist him in his potential bid to take Tesla Inc. private, according to a person familiar with the matter.

Musk, 47, shocked the financial world 7 August when the chief executive officer tweeted that he wanted to take the electric-car maker private and had “funding secured." The tweet has drawn a subpoena from the Securities and Exchange Commission, according to a person familiar with the matter.

By hiring both Goldman Sachs Group Inc. and Morgan Stanley, Musk has tied up the top two merger advisers in the US this year.

Tesla didn’t immediately respond to a request for comment. A spokesman for Morgan Stanley declined to comment.

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