Tesla Forms Three-Member Panel to Decide on Any Musk Proposal

Tesla Forms Three-Member Panel to Decide on Any Musk Proposal
A Tesla showroom is seen in Washington, DC, on Aug. 8, 2018. SAUL LOEB/AFP/Getty Images
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Tesla Inc’s board named a special committee of three directors on Aug. 14 to evaluate possibly taking the electric carmaker private, although it said it had yet to see a firm offer from the company’s chief executive, Elon Musk.

The Silicon Valley billionaire last week said on Twitter he wants to take Tesla private at $420 a share, valuing it at $72 billion, and claimed funding was “secured.”