<p class="title">The board of Tesla Inc said on Friday the company would remain public, following a tumultuous two weeks for the carmaker after its chief executive announced he was considering a deal to go private.</p>.<p class="bodytext">Six members of Tesla's board of directors said in a brief statement issued on Friday that the board had held a meeting on Thursday, and that efforts to take Tesla private were now cancelled.</p>.<p class="bodytext">During the meeting, CEO Elon Musk reported on the work he had done in trying to take the electric vehicle company private, the board said in the statement.</p>.<p class="bodytext">"Elon communicated to the Board that after having done this work and considered all factors, he believes the better path is to no longer pursue a transaction for taking Tesla private," the board members wrote.</p>.<p class="bodytext">The special committee, formed to consider the deal proposed by Musk, was dissolved, the release said.</p>.<p class="bodytext">The statement was written by six independent members of Tesla's board: Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch.</p>.<p class="bodytext">The news marks a stunning reversal for Musk who tweeted on Aug. 7 that he had "funding secured" for a deal that would take Tesla private at a value of $72 billion.</p>.<p class="bodytext">Pressure grew on Musk after he disclosed subsequently that he had not closed a deal to secure funding from Saudi Arabia's sovereign wealth fund.</p>
<p class="title">The board of Tesla Inc said on Friday the company would remain public, following a tumultuous two weeks for the carmaker after its chief executive announced he was considering a deal to go private.</p>.<p class="bodytext">Six members of Tesla's board of directors said in a brief statement issued on Friday that the board had held a meeting on Thursday, and that efforts to take Tesla private were now cancelled.</p>.<p class="bodytext">During the meeting, CEO Elon Musk reported on the work he had done in trying to take the electric vehicle company private, the board said in the statement.</p>.<p class="bodytext">"Elon communicated to the Board that after having done this work and considered all factors, he believes the better path is to no longer pursue a transaction for taking Tesla private," the board members wrote.</p>.<p class="bodytext">The special committee, formed to consider the deal proposed by Musk, was dissolved, the release said.</p>.<p class="bodytext">The statement was written by six independent members of Tesla's board: Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch.</p>.<p class="bodytext">The news marks a stunning reversal for Musk who tweeted on Aug. 7 that he had "funding secured" for a deal that would take Tesla private at a value of $72 billion.</p>.<p class="bodytext">Pressure grew on Musk after he disclosed subsequently that he had not closed a deal to secure funding from Saudi Arabia's sovereign wealth fund.</p>