Musk revealed last week that he had become the largest shareholder in Twitter, with a 9.2% stake in the company, on March 14th. A day after revealing his stake, the CEO of the Parag Agrawal platform announced that the Tesla co-founder had been invited to join the company’s board, a position he gladly accepted. Accepting the board position, Musk limited himself to how many of the company’s shares he could hold, up 14.9%. However, on Sunday, Parag announced that the CEO of SpaceX had officially resigned from his position on the board. Musk, 50, signed the new filing with the Securities and Exchange Commission (SEC) on Monday, saying he had resigned from his position on the board. The document said Musk could “express his views” on Twitter policies and services on the board or on social media. He could also buy additional shares or sell shares on Twitter if he saw fit. The usually vocal tech mogul has not commented on his decision to resign from the board. Here, DailyMail.com explains what the most unpredictable tycoon in the world may have in store for his latest purchase … Analysts speculate that Elon Musk’s trip as Twitter’s largest shareholder could be part of a ploy to stage a hostile takeover of the company. Is Elon Musk planning a hostile takeover? Wall Street analysts say the rejection of a post by Elon Musk on Twitter’s board – in which he had previously said he was excited to join – could open the door for Tesla CEO to buy more shares and arrange its acquisition. company.
“This weekend’s change relieves the company of having to deal with a renegade CEO tweeting about board-level discussions. That would be unfounded, “Gordon Haskett Research Advisors’ Don Bilson told CNBC on Monday. “The other side of it is that Twitter has to deal with a wild investor who already owns 9% of the company and has the resources to buy the remaining 91%. As unstable as Musk is, we could see such a move coming soon. “Or we could never see them all,” he added. “I do not think anything is off the menu with this guy.” “This is clearly going to be an unfriendly situation,” said Wedbush Securities analyst Dan Ives. “Instead of Musk saying in the corner of the board room just saying no or agreeing with certain candidates on the board, I think he’s really getting to the point where in the next few days I think we’re going to start to see if he’s more hostile. , more active – this is what the street is focused on “. Analysts say Agrawal’s statement, combined with Musk’s rejection of the board, suggests the billionaire may seek more control over the company. Twitter user @IvanTheK shared Parag’s statement, claiming that his “distractions ahead” warning was a “key phrase” “This is clearly going to be an unfriendly situation,” Wedbush Securities analyst Dan Ives (pictured) said in an interview with SquawkBox on Monday. “Instead of Musk saying in the corner of the board room just saying no or agreeing with certain candidates on the board, I think he’s really getting to the point where in the next few days I think we’re going to start to see if he’s more hostile. , more ACTIVE ‘ Musk, who is currently Twitter’s largest shareholder, filed an amended 13D form with the Securities and Exchange Commission (SEC) on Monday, saying he could “express his views” on Twitter’s policies and services in the administration. council or social media. The paper also said that Musk “can participate in discussions with the Board and / or members … possible business combinations and strategic alternatives, business, operations, capital structure, governance, management, Publisher strategy and other Issues related to the Publisher. ‘ “The reporting person may express their views to the Board of Directors and / or the members of the Issuer’s management team and / or the public through social media or other channels about the Issuer’s businesses, products and services.” added to the deposit.
Musk’s testimony came hours after Twitter CEO Parag Agrawal announced Sunday night that the billionaire had declined an invitation to join the platform’s board. Agrawal said the board would remain “open” to Musk’s contribution, but also warned: “There will be distractions ahead, but our goals and priorities remain unchanged.” “Elon changed his papers last week from a passive to an activist investor. He is no longer bound by the deal that limits the amount of Twitter he can hold. It looks crazy, “said Alex Kantrowitz, a longtime reporter and tech writer. “From here it becomes more and more interesting.” On Monday, Musk submitted an amendment to the previous 13D SEC deposit, which stated his intention to be an active investor. His new deposit allows him to acquire additional shares of the company or to sell all or part of his shares, if he so wishes. However, the document states that Musk “has no current plans or intentions” to do so Musk’s testimony came hours after Twitter CEO Parag Agrawal announced Sunday night that the billionaire had declined an invitation to join the platform’s board. Agrawal said the board would remain open to Musk’s input, adding: “There will be distractions ahead, but our goals and priorities remain unchanged.” Jason Miller, a former Trump spokesman and CEO of rival social networking platform Gettr, told DailyMail.com Musk probably realized that culture is so embedded in Twitter that it can not be changed: “It’s like taking a car from a driver who smoked. “You can not get rid of the smell.” “The whole culture is radically broken,” Miller said, criticizing their continuing political distinctions, censoring conservative voices, including Jake Posobieck and Juanita Broderick, and repeatedly choosing “winners and losers” in his speech. He admitted, however, that there is no prediction of what Musk can do next and whether he will be away when it comes to Twitter. Loup Ventures Managing Partner Gene Munster, however, said he believed “the majority of the drama was over,” arguing that it would be a smarter decision for Musk to make an immediate acquisition if he planned to do so. The analyst also claimed that he does not believe that Musk wants to spend his time on a Twitter acquisition. However, Loup Ventures Managing Partner Gene Munster said he believed “the majority of the drama was over,” arguing that it would be a smarter decision for Musk to make an immediate acquisition if he planned to do so. Other analysts say Musk’s promise to be vocal about the company could affect the value of Twitter shares. Twitter shares have risen since mid-March when Musk bought his stake “Understand that there is something important to him about freedom of speech and I think he wants to move it forward. “Understand that he sees this as an opportunity as great as e-mobility and as great as space travel,” Munster said. “But in the end I think this is too many things on the plate to take on.”
Other analysts say Musk’s promise to be vocal about the company could affect the value of Twitter shares. “While it remains unclear what Mr. Musk’s priorities are, we expect his tweets to receive increased attention, which could lead to volatile stock prices,” KeyBanc analysts told the news agency.
Despite speculation, Musk’s SEC deposition states that he “has no plans or intentions” to buy additional shares or sell his current shares, but “reserves the right to change his plans at any time as he sees fit.” How much would it cost to buy enough shares to take over? In order for Elon Musk to take over Twitter, he will have to buy a majority stake in the company or several shares to surpass 50 percent of the vote. Tesla CEO, who is the largest shareholder in Twitter, currently holds a 9.2% stake in the social networking platform. It owns 73.4 million shares worth about $ 3.4 billion. Twitter currently has 800.64 million shares in circulation, according to Yahoo Finance. Musk will need to acquire at least an additional 40.8% stake in the company to become the majority shareholder. The CEO of SpaceX – the richest man in the world with a net worth of $ 302 billion – will need to buy about $ 400.32 million worth of additional stock, valued at about $ 15.3 billion, to own 50 percent of the company. Musk will need to buy about $ 400.32 million worth of additional shares worth about $ 15.3 billion to own 50% of Twitter Shares of Twitter recovered sharply on Monday after falling more than 8 percent in pre-orders as news broke that Musk was refusing to take a seat on the company’s board. The social media giant’s share price rose more than 2.8% since Monday afternoon, to $ 47.51 after closing at $ 46.23 on Friday Musk began buying shares on Twitter on Jan. 31 and continued to buy shares in every session until April 1, according to an SEC statement received by DailyMail.com last week. Its biggest purchase came on February 7, when it acquired more than 4.8 million shares, valued at about $ 176 million. Twitter closed at the low of 2022 on March 7, when the shares traded at $ 32.42 each. Shares had closed at $ 37.51 in January and have risen sharply following news of Musk’s involvement with the platform. Shares of Twitter recovered sharply on Monday after falling more than 8 percent in pre-orders as news broke that Musk was refusing to take a seat on the company’s board.
The social media giant’s share price rose more than 2.8% as of Monday afternoon, to $ 47.51 after closing at $ 46.23 on Friday.
Musk became Twitter …