Just a few days ago he joined the company with 9%. The board met immediately and commented: Unsolicited offer. The poison pill is evaluated
A new chapter in the Elon Musk-Twitter saga. On Thursday, April 14, the billionaire launched a bid to buy Twitter Inc 43 billion dollars. It is located around $54.20 per share. Just a few days ago, His step back from the company’s board of directors, That left everyone, shareholders and non-shareholders, speechless. The Twitter board first made him aware of this I will evaluate the proposal carefully, which are not solicited and are not obligatory. to me As reported by CNBC The Board of Directors met immediately, in the afternoon, to discuss it and the company will also talk about it with employees.
The first reaction comes from one of the biggest contributors, Saudi Prince Al-Waleed bin Talal Al SaudThat’s right on Twitter Presentation of the judges Musk is insufficient: I don’t think Musk’s offering ($54.20) comes close to Twitter’s intrinsic value, given its growth prospects. As one of Twitter’s largest and oldest shareholders, Kingdom Holding Company (a Saudi investment company I chair) and I decline this offer. Subsequently, Bloomberg reported the comment on the entire cBoard of Directors: Offer to Misk Junk. The Tesla founder himself appears to be following in his footsteps, admitting – during a speech at a Ted conference – that he is not sure he will be able to buy them. But then, without going into details, he poses: I have a plan B.
The board also appears to have a Plan B. According to the Wall Street Journal, he is considering the so-called poison pill. In Italian, the poisoned pill means: it’s about A series of tools designed to resist climbing attemptsor hostile takeover offers. Thus preventing, in this case, Elon Musk from attaining a majority stake.
“I invested in Twitter because I believe it can be a platform for freedom of expression around the world and I believe that freedom of expression is a social imperative for a functioning democracy,” Musk said in his presentation of his takeover discussion. However, since I made my investment, I now realize that the company will not thrive or serve this social necessity in its current form. Twitter needs to turn into a private company. Musk sent a letter to the company just yesterday regarding the proposed purchase. And if the offer is not accepted, I must reconsider my position as a member. Twitter has huge potential, I’ll open it up.
only rises At the beginning of April, Musk acquired 9.2% of the company, Of which is now the major shareholder, with 73.5 million shares worth €2.6 billion. Before we get to that step, mask He released a poll on Twitter: Do his followers really feel free? More than 70% of the answer was no. Then another question: Do you want a button to edit tweets? Another positive response from the audience followed.
In news of the offer, Twitter shares on the New York Stock Exchange jumped to $51.10 (+11.45%), while Tesla shares lost 1.33%. Not long after the billionaire’s tweet arrived: Three words suffice: I made an offer, followed by a link to the official document issued to the SEC, the supervisory authority on Wall Street. The document notes that the stock price represents a 54% premium to the regular stock closing price on January 28, 2022, the trading day before Musk began investing in Twitter. After the rejection of the Saudi prince, the stock lost 0.5 percent among the majority of shareholders.
Apr 14, 2022 (change on Apr 14, 2022 | 20:35)
© Reproduction reserved
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”