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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
Commercial Awareness Update - August 2018
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<blockquote data-quote="Coralin96" data-source="post: 1436" data-attributes="member: 15"><p>Commercial Awareness Update 6-10 August</p><p></p><p>I found this story from the latest edition of The Economist, which I've tried to explain below:</p><p></p><p style="text-align: center"><strong>Elon Musk’s plans to take Tesla private</strong></p> <p style="text-align: center"></p> <ul> <li data-xf-list-type="ul">On the 7th August, Elon Musk announced plans to take Tesla – the world’s leading manufacturer of electric cars – private.</li> <li data-xf-list-type="ul">In Musk’s tweet, he claimed that he had enough money to buy out the company at $420 per share. </li> <li data-xf-list-type="ul">If Musk takes Tesla private, he would need to raise enough money to buy its shares from investors, as it's currently listed on the NASDAQ, an American stock exchange.</li> <li data-xf-list-type="ul"> His tweet sent the markets into chaos, leading to Tesla’s shares on the stock exchange being suspended temporarily.</li> </ul><p>Impact</p><ul> <li data-xf-list-type="ul"> If Musk follows through to take Tesla private, it would be the largest buyout in history:</li> </ul> <p style="text-align: center"><img src="https://ei.marketwatch.com/Multimedia/2018/08/07/Photos/ZH/MW-GN948_tslabu_20180807183224_ZH.jpg?uuid=c17e610c-9a91-11e8-adce-ac162d7bc1f7" alt="" class="fr-fic fr-dii fr-draggable " style="" /> </p><p></p><ul> <li data-xf-list-type="ul">It would also allow Musk to run the company without having to be accountable to the public or to follow strict regulations for public companies.</li> <li data-xf-list-type="ul">But Elon Musk’s tweet has already come under fire. He claimed funding had been secured, which sent the stock price up. But this could fall foul of American securities law, because companies are not allowed to use social media to mislead investors. </li> <li data-xf-list-type="ul">Already, Elon Musk and Tesla has been sued twice, claiming his tweet was misleading, inflating Tesla’s stock price to the detriment of short sellers who bet that Tesla’s stock will fall.</li> <li data-xf-list-type="ul">Musk may also likely face political intervention if he chooses to raise money from foreign sources, including China and Saudi Arabia. </li> <li data-xf-list-type="ul">Lawyers will be involved to help take Tesla private. Musk has proposed a “special purpose fund” to help any existing shareholders keep their shares, which advisers will need to structure if it is compliant with legislation. </li> </ul></blockquote><p></p>
[QUOTE="Coralin96, post: 1436, member: 15"] Commercial Awareness Update 6-10 August I found this story from the latest edition of The Economist, which I've tried to explain below: [CENTER][B]Elon Musk’s plans to take Tesla private[/B] [/CENTER] [LIST] [*]On the 7th August, Elon Musk announced plans to take Tesla – the world’s leading manufacturer of electric cars – private. [*]In Musk’s tweet, he claimed that he had enough money to buy out the company at $420 per share. [*]If Musk takes Tesla private, he would need to raise enough money to buy its shares from investors, as it's currently listed on the NASDAQ, an American stock exchange. [*] His tweet sent the markets into chaos, leading to Tesla’s shares on the stock exchange being suspended temporarily. [/LIST] Impact [LIST] [*] If Musk follows through to take Tesla private, it would be the largest buyout in history: [/LIST] [CENTER][IMG]https://ei.marketwatch.com/Multimedia/2018/08/07/Photos/ZH/MW-GN948_tslabu_20180807183224_ZH.jpg?uuid=c17e610c-9a91-11e8-adce-ac162d7bc1f7[/IMG] [/CENTER] [LIST] [*]It would also allow Musk to run the company without having to be accountable to the public or to follow strict regulations for public companies. [*]But Elon Musk’s tweet has already come under fire. He claimed funding had been secured, which sent the stock price up. But this could fall foul of American securities law, because companies are not allowed to use social media to mislead investors. [*]Already, Elon Musk and Tesla has been sued twice, claiming his tweet was misleading, inflating Tesla’s stock price to the detriment of short sellers who bet that Tesla’s stock will fall. [*]Musk may also likely face political intervention if he chooses to raise money from foreign sources, including China and Saudi Arabia. [*]Lawyers will be involved to help take Tesla private. Musk has proposed a “special purpose fund” to help any existing shareholders keep their shares, which advisers will need to structure if it is compliant with legislation. [/LIST] [B] [/B] [/QUOTE]
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Commercial Awareness Update - August 2018
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