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Tesla Shares Rise on Report Board Will Explore Musk's Proposal

Tesla Inc.’s ( TSLA) board plans to meet with financial advisors next week to formalize a process to explore Elon Musk's proposal to take the automaker private, people familiar with the matter told CNBC. The anonymous sources said Tesla’s board is likely to develop a special committee made up of a smaller number of independent directors to review buyout details. Sources also expect executives to tell Musk, the company’s chairman and CEO, to recuse himself from the process and hire his own separate set of advisors.

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