Elon Musk made a shock offer to buy the whole of Twitter. The billionaire said that he did not have confidence in the management of the company and that he had to undergo changes that could not happen without its purchase. He offered more than $ 40 billion to the company and said he could sell his existing stock if the offer was not accepted. Mr Musk recently announced that he had bought just under 10 percent of the company, making him its largest shareholder. He was offered a job and initially accepted a position on the board – before announcing he would not attend, prompting speculation about his plans. He has now said he wants to buy the company to protect “freedom of speech” and to unlock what he said are the “extraordinary potential” of the social network.
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Twitter responds to Elon Musk’s proposal to buy the entire company
Twitter responded to Elon Musk’s offer to buy the entire company. “Twitter, Inc. today confirmed that it had received an unsolicited, non-binding offer from Elon Musk to acquire all of the Company’s common stock in cash for $ 54.20 per share,” the statement said. “The Twitter Board of Directors will carefully consider the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter shareholders.” Graeme Massie14 April 2022 19:49 1649961714
Can Elon Musk afford to buy Twitter?
The CEO of Tesla is the richest man in the world, with a personal fortune of about 259 billion dollars on Thursday, according to Bloomberg. It already owns 9.2 percent of Twitter, so it would cost it about $ 40 billion to take full control of the social media platform. The problem is that Mr. Musk was very open about the fact that he has a low cash supply. He sold a stake in Tesla last year, but after taxes that would have earned him about $ 14 billion in cash. He owns nearly 200 million shares of the $ 200 billion electric vehicle maker, but still needs to find $ 25 billion in cash to buy Twitter if the board agrees to sell it to him. If they do not, then Mr. Musk may attempt a hostile takeover of the company, in which he makes direct offers to shareholders for their shares in the company or tries to gain control by proxy of several shares to replace the board of directors. In his statement to the SEC on Thursday, it was stated that the “source of funds” for his takeover bid was “another”. (Getty Images) Graeme Massie14 April 2022 19:41 1649960875
How could Twitter be under Elon Musk?
Elon Musk’s story on Twitter could bring additional control to the social networking site, as stricter rules on web content come into force, experts said. The billionaire boss of Tesla and SpaceX proposed the purchase of “100% Twitter for $ 54.20 per share in cash”, valuing the company at $ 41.39 billion (31 31.58 billion). Graeme Massie14 April 2022 19:27 1649959824
Elon Musk says he has a Plan B if his Twitter bid is rejected
The CEO of Tesla was asked if he had another series of attacks if his offer of 43 billion dollars for the social networking platform was rejected. “There is,” he told TED in Vancouver, Canada, on Thursday, when asked for more details. “I think again,” he added. Graeme Massie14 April 2022 19:10 1649958287
Elon Musk says Twitter acquisition would help ‘civilization’ and calls for end to ‘mysterious demotion’ of tweets
Elon Musk called for more transparency in Twitter’s algorithm after presenting a $ 40 billion bid to buy the company. Musk explained the changes he would like to see on the platform in a TED talk on Thursday afternoon, saying he believes improving public confidence in the platform is “extremely important for the future of civilization.” Megan Sheets has the story. Graeme Massie14 April 2022 18:44 1649957570
Saudi prince, a major shareholder in Twitter, rejects Elon Musk’s offer to buy company
A Saudi prince who is a major shareholder in Twitter says he will turn down Elon Musk’s $ 43 billion bid to buy the company. Al Waleed bin Talal wrote on Twitter that he rejected the businessman’s cash offer for the social networking platform because it was too low. Graeme Massie14 April 2022 18:32 1649955756
The White House declined to comment on Musk’s offer on Twitter
The White House says it has not commented on Elon Musk’s offer to buy the Twitter social networking platform. “This is an offer from a private investor,” White House Deputy Spokeswoman Karine Jean-Pierre told reporters at Air Force One. Graeme Massie14 April 2022 18:02 1649955535
Republican lawmakers support the acquisition of Musk on Twitter
“Elon Musk’s struggle for freedom of speech is patriotic and necessary. “He deserves the Medal of Freedom,” Colorado lawmaker Lauren Bobert wrote on Twitter. Meanwhile, spokesman Jim Jordan from Ohio wrote on Twitter, “Elon Musk. Free speech.” Graeme Massie14 April 2022 17:58 1649954695
Saudi Prince Al Waleed bin Talal Al Saud Explains Elon Musk’s Rejection
“I do not think that @elonmusk’s proposed offer ($ 54.20) is close to its inherent value (Twitter) given its growth prospects. As one of Twitter’s largest and long-term shareholders, @Kingdom_KHC and I reject this offer. “ Graeme Massie14 April 2022 17:44 1649953975
Cramer says Twitter has no choice but to turn down the offer
The CNBC financial expert says that Twitter’s board has “no choice” but to reject Elon Musk’s offer of $ 54.20 per share. “They have no choice but to reject it,” Cramer told Squawk on the Street on Thursday. If they say, “We accept,” they are false. And they are not fake. “ He added that the board could face possible “personal liability” if the board received the deal, which would value the company at about $ 43 billion. “This is one where they literally do not do their job, there is no fiduciary responsibility if they just say, you know what, we take it on,” Cramer said. “There are times when individual managers open up to a level of distrust that I think goes too far. That’s beyond the limits. “ Tesla Motors CEO Elon Musk speaks at the Tesla Giga Texas Opening Party for the “Cyber Rodeo” in Austin, Texas, on April 7, 2022 (AFP via Getty Images) Graeme Massie14 April 2022 17:32
