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Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said on Monday that the electric vehicle maker is open to merging with a legacy automaker in theory, but such a transaction should be friendly and not hostile.
What happened: Musk made the reveal in an interview with Mathias Doepfner, CEO of German publishing house Axel Springer SE at a live event, first spotted on CNBC.
“I think we’re definitely not going to launch a hostile takeover,” Musk told Doepfner. “If someone said, ‘hey, we think it would be a good idea to merge with Tesla,’ we would definitely have that conversation. But we don’t want it to be a hostile takeover situation. “
The two executives were discussing a purely theoretical scenario.
Because matter: As of last month, Tesla’s valuation is higher than all legacy automakers, including General Motors Company (NYSE: GM), Ford Motor Company (NYSE: F) e Fiat Chrysler Automobiles NV (NYSE: FCAU) – put together.
Musk is also reportedly asking employees to take significant cost-cutting measures. The CEO described Tesla’s line of business as a “hard money game” in a statement and warned employees that if they don’t cut costs. “[Tesla] the broth will be immediately crushed like a soufflé under a bat! “
Price action: Tesla stock closed nearly 3% higher on Monday at $ 584.76 and fell 1.59% to $ 575.48 in the after-hour session.
Photo by Daniel Oberhaus on Flickr
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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