drafting a new article with the given SEO title and content requirements. Here’s the rewritten version:
Delaware Attorney General Reportedly Hires a Bank to Evaluate OpenAI’s Restructuring Plan
Delaware’s Attorney General has reportedly enlisted an investment bank to assess OpenAI’s restructuring plan, according to a recent Wall Street Journal report. This independent evaluation could potentially complicate or delay the company’s transition to a for-profit model.
The move comes as OpenAI seeks regulatory approval for its planned restructuring, which would allow the company to attract new investors and eventually go public. While OpenAI and Microsoft have already hired their own financial advisors for the deal, Delaware regulators are now seeking an independent assessment of the equity distribution to OpenAI’s nonprofit entity.
Corporate governance experts suggest this regulatory scrutiny may focus on key financial aspects of the restructuring that could significantly impact the final valuation. The evaluation could potentially affect how much OpenAI ultimately pays to simplify its corporate structure.
Interestingly, Elon Musk’s recent $97.4 billion takeover bid for OpenAI – though rejected – may have inadvertently influenced the valuation process. Experts believe such high-profile offers can affect how regulators view the company’s financial structure, even when the bids don’t result in actual transactions.
The Delaware Attorney General’s decision to bring in independent financial experts underscores the complexity of OpenAI’s transition from a nonprofit to a for-profit entity. This move could potentially set important precedents for how similar tech company restructurings are evaluated in the future.