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Musk says no final decision on taking Tesla private
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In this file photo taken on September 27, 2016 Tesla Motors CEO Elon Musk speaks about the 'Interplanetary Transport System' which aims to reach Mars with the first human crew in history, in the conference he gave during the 67th International Astronautical Congress in Guadalajara, Mexico. (AFP/Hector Guerrero)
T
esla Inc Chief Executive Officer Elon Musk said on Tuesday in a letter to employees that he is considering taking the electric car maker private at a price of $420 per share.
Musk said a final decision has not yet been made, but the reason is to create an environment for Tesla to operate best.
Read also: Musk tweets video parody of Hitler `shorting Tesla stock'
"As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders," Musk wrote in the letter.
Trading in the company's shares were halted at $367.25, up 7.4 percent, after Musk tweeted earlier that he was considering taking the company private at $420 per share.
