Musk’s Tesla buyout plan – No formal offer, no firm deals with advisers

Elon Musk, co-founder and chief executive officer of Tesla Motors Inc., speaks during a news conference in Tokyo, Japan. Photographer: Yuriko Nakao/ Bloomberg

Tesla Inc’s board named a special committee of three directors on Tuesday to decide what to do about Chief Executive Elon Musk’s potential offer to take the electric carmaker private, although Musk has yet to make a formal offer and is still negotiating to hire advisers needed to do a deal.

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