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Elon Musk hiring Morgan Stanley probably closes the book on 'funding secured'

Elon Musk hiring Morgan Stanley probably closes the book on 'funding secured'

Finance
Tesla CEO Elon Musk's hiring of Morgan Stanley this week is just a small step in his ongoing quest to take Tesla private. But it has a larger, more damning implication: he probably didn't have funding secured, even in the most loose sense of the phrase. Musk is on the verge of hiring Morgan Stanley because the bank excels in rounding up financing from a wide array of sources, according to a person familiar with the matter. Musk has already retained Goldman Sachs to advise his attempt at taking the company private, first announced in an August 7 tweet. Morgan Stanley will be brought in the same capacity -- to raise money for a...
There are big doubts about how Musk will pull off the Tesla buyout, but Morgan Stanley may have found a way

There are big doubts about how Musk will pull off the Tesla buyout, but Morgan Stanley may have found a way

Finance
Morgan Stanley is telling its clients there might a way to get funding for Elon Musk's plan to take Tesla private. "A Tesla LBO does not appear to be feasible, in our view, even with less than $ 10bn of incremental debt. However, if the decision is made to take the company private, an equity buyout (or EBO) may be a potentially viable option," analyst Adam Jonas said in a note to clients Friday. "We believe Tesla could consider an auction for its shares in the private equity market, financed by existing shareholders, new strategics, divestiture of valuable captive assets (Tesla autonomous/shared), and possibly some help from SpaceX." Tesla shar...

JP Morgan gets attention from call buyers

Finance
[unable to retrieve full-text content]Traders are making a bet Friday on JP Morgan JPM So far 5 577 contracts of the July 114 call have changed hands against open interest of 119 contracts Today s volume moved high in the bid ask spread indicating these new calls were initiated from the buy side InvestorsKeyhole Trade Latest Articles in
Morgan Freeman apologises after sex harassment claims

Morgan Freeman apologises after sex harassment claims

Entertainment
US film star Morgan Freeman has apologised following allegations of sexual misconduct made by eight women and several other people.One production assistant accused Freeman of harassing her for months during filming of bank robbery comedy Going in Style, CNN reported.She said the 80-year-old touched her repeatedly, tried to lift her skirt and asked if she was wearing underwear.Freeman apologised to "anyone who felt uncomfortable or disrespected"."Anyone who knows me or has worked with me knows I am not someone who would intentionally offend or knowingly make anyone feel uneasy," he said in a statement.Making women feel uncomfortable was "never my intent", he said.He is the latest well-known Hollywood figure to be accused of sexual...