Tesla Inc.’s (TSLA) board plans to meet with 澳洲幸运5官方开奖结果体彩网: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 .

The anonymous sources said Tesla’s board is likely to develop a special committee made up of a smaller number of independent dire⛄ctors to review buyout details. Sources also expect executiv♍es to tell Musk, the company’s chair and CEO, to recuse himself from the process and hire his own separate set of advisors.

Sources speaking with  on Thursday said that the board has held m🌜ultiple discussions abou🎶t Musk's proposal and is seeking information about funding.

Tesla s⛄tock was up 2.32% ꦛin pre-market trading on Friday.

CNBC’s report came several days after Musk stunned financial markets by revealing on Twitter that he is considering taking the automaker private. Musk’s bold claim that Tesla already has the funding in place to delist itself from the public glare of the 澳洲幸运5官方开奖结果体彩网:stock exchange has yet to be verified. The company declined to comment on whether its CEO’s financing comments were true, while the U.S. 澳洲幸运5官方开奖结果体彩网:Securities and Exchange Commission has since begun to make its own inquiries to check the veracity of Musk's controversial tweet. (See also: 澳洲幸运5官方开奖结果体彩网:SEC Probing Tesla CEO Musk's▨ Tweets: Repo🌱rts.)

One of CNBC’s sources said Musk previously discussed plans to take Tesla private with a Saudi Arabian 澳洲幸运5官方开奖结果体彩网:sovereign wealth fund. The reported earlier this week that Saudi's Public Investment Fund bought a 3% to 5% stake in the electric car maker. However, it is not known whether this same fund is prepared to finance Tesla’s🍌 bid to buy out shareholders.

The expected decision by Tesla’s board to ask Musk to excuse himself from future talks is not unusual in these types of cases, notes CNBC. When Michael Dell took Dell private in 2012 and 2013, his board also requested that he remove himself from discussions and hire his own 🌱advisors.

Like Dell, Musk has 𒅌a big stake in the company he runs. The entrepreneur owns about 20% of Tesla, meaning there is a potential conflict of interest should he head talks to take the automaker private.

On Twitter, Musk said he would take the company private for $420 a share, valuing Tesla at around $71 billion. The company currently has a 澳洲幸运5官方开奖结果体彩网:market capitalization of $59.3 billion. (See also: 澳洲幸运5官方开奖结果体彩网:What If Tesla Goes Private?)