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Tesla's Musk hires Morgan Stanley as adviser in go-private move

Hiring of both Morgan Stanley and Goldman Sachs brings the top two merger advisers in the US into Musk's team

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Tesla is an electric carmaker.

Tesla Inc (NASDAQ:TSLA) chief Elon Musk has retained Morgan Stanley as an adviser in his controversial move to take the electric carmaker private, media reports said on Thursday.

Charles Gasparino of Fox Business New tweeted about the move by Musk, who has been besieged ever since he announced the plan to take the company private earlier in August.

Having earlier hired Goldman Sachs and now Morgan Stanley, Musk has retained the services of the two top merger advisers in the US, according to Bloomberg.

READ: Tesla hires crisis communications firm in attempt to repair tattered image, according to reports

The SEC is investigating the plan by Musk and Tesla's board has formed a panel of three directors to study the proposal.

Musk has even run into demands by some observers to step down, a suggestion he immediately rejected.

 

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