(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
- The 100 Most Influential People of 2024
- Coco Gauff Is Playing for Herself Now
- Scenes From Pro-Palestinian Encampments Across U.S. Universities
- 6 Compliments That Land Every Time
- If You're Dating Right Now , You're Brave: Column
- The AI That Could Heal a Divided Internet
- Fallout Is a Brilliant Model for the Future of Video Game Adaptations
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at letters@time.com