(BLOOMBERG) — Elon Musk has hired Morgan Stanley to assist him in his potential bid to take Tesla Inc. private, according to a person familiar with the matter.
Musk, 47, shocked the financial world Aug. 7 when the chief executive officer tweeted that he wanted to take the electric-car maker private and had “funding secured.” The tweet has drawn a subpoena from the Securities and Exchange Commission, according to a person familiar with the matter.
By hiring both Goldman Sachs Group Inc. and Morgan Stanley, Musk has tied up the top two merger advisers in the U.S. this year.
Tesla didn’t immediately respond to a request for comment. A spokesman for Morgan Stanley declined to comment.
More Must-Reads from TIME
- How Donald Trump Won
- The Best Inventions of 2024
- Why Sleep Is the Key to Living Longer
- How to Break 8 Toxic Communication Habits
- Nicola Coughlan Bet on Herself—And Won
- What It’s Like to Have Long COVID As a Kid
- 22 Essential Works of Indigenous Cinema
- Meet TIME's Newest Class of Next Generation Leaders
Contact us at letters@time.com