Elon Musk tells court Google had 'standing interest' in buying Tesla, encouraging him to take it private with Saudis
Tesla CEO Elon Musk told a court Tuesday that Google had a"standing interest" in buying the electric-vehicle maker, which encouraged him to try taking the company private with Saudi funds.
The billionaire pointed to the interest from Google's parent Alphabet laid down in an earlier deposition,Musk told his lawyer Alex Spiro in a cross-examination that this factored into his decision to try and take Tesla private. The San Francisco trial is the result of a class-action shareholder lawsuit that alleges Musk committed securities fraud with the tweet. The investors have accused Musk of illegally manipulating Tesla's stock price by saying he had funding in place to take the carmaker private at $420 a share.
Musk said that in planning to take Tesla private, he entered into negotiations with the Saudi Public Investment Fund , which he said"unequivocally" supported his plan,
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