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Tags: elon musk | janus | tesla | private

Musk Tesla Plan 'Doesn't Make Sense to Me,' Janus CEO Says

Musk Tesla Plan 'Doesn't Make Sense to Me,' Janus CEO Says
Elon Musk, center (Robyn Beck/AFP/Getty Images

Thursday, 09 August 2018 12:26 PM EDT

Elon Musk’s plan to take Tesla Inc. private “doesn’t make sense” because it was poorly communicated and calls for a high valuation, the chief executive of Janus Henderson Group Plc said.

“I don’t really understand the idea of what was suggested in the potential for them to go private,” Dick Weil, CEO of the $370 billion asset manager, said in an interview with Bloomberg Television Thursday. “That’s obviously an incredibly large valuation to somehow take into the private market.”

The suggestion that current shareholders could continue to own the company is “a combination of financial engineering that I don’t really understand,” he said.

Weil added: “I, like a great many others, am confused by what is motivating” the go-private plan and “why it was communicated in the way it was. I just can’t interpret it. It doesn’t make sense to me.”

Janus Henderson funds held about 305,000 Tesla shares as of March 31, down from 712,000 at the end of 2017, according to data compiled by Bloomberg.

© Copyright 2024 Bloomberg News. All rights reserved.


StreetTalk
Elon Musk's plan to take Tesla Inc. private "doesn't make sense" because it was poorly communicated and calls for a high valuation, the chief executive of Janus Henderson Group Plc said.
elon musk, janus, tesla, private
167
2018-26-09
Thursday, 09 August 2018 12:26 PM
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