https://www.cnbc.com/2018/08/14/what-tesla-takeover-porposal-could-look-like.html

Now that Tesla CEO Elon Musk has hired advisers for his plan to take the U.S. electric car maker private, and the Tesla board has named a special committee of independent directors to evaluate it — two steps CNBC reported would happen last week— the next milestone is for Musk to actually put together a formal proposal.

(Ideally, this proposal would already exist, but let's table that point for now.)