Elon Musk Twitter

2022 - 4 - 14

Post cover — Image courtesy of "The Guardian"

Elon Musk offers to buy Twitter for more than $40bn (The Guardian)

Tech entrepreneur makes offer of $54.20 a share in cash to 'unlock potential' of microblogging site.

When Musk offered to take his electric carmaker Tesla private in 2018 he offered to buy the shares he did not already own for $420 a share, saying he had “funding secured” for the deal. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. That’s not something the firm will want hanging over it.” The SEC found against him over the tweet and Musk agreed to submit his public statements about the company’s finances to vetting by its legal counsel. But let’s not forget, Elon’s view of simply voicing opinion has been seen as reckless by regulators in the past,” he said. In a letter to Bret Taylor, Twitter’s chair, Musk said the site was not thriving as a company or a tool for improving freedom of speech, and “needs to be transformed as a private company”.

Elon Musk is offering to buy Twitter for $43 billion in cash (NPR)

Musk's offer comes after the Tesla and SpaceX CEO became Twitter's largest shareholder. Musk says he will unlock Twitter's potential.

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Elon Musk launches hostile takeover bid for Twitter (eNCA)

Tesla chief Elon Musk has launched a hostile takeover bid for Twitter, offering to buy 100% of its stock and take it private, according to a stock exchange ...

"Twitter needs to be transformed as a private company. His announcement sent Twitter shares soaring more than 25 percent. The billionaire tech entrepreneur is a frequent Twitter user, regularly mixing in inflammatory and controversial statements about issues or other public figures with remarks that are whimsical or business-focused. "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk said in his filing. The Tesla and SpaceX chief is a frequent Twitter user, regularly mixing in inflammatory and controversial statements about issues or other public figures with remarks that are whimsical or business-focused As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter."

Elon Musk wants to buy Twitter for R600 billion (News24)

South African-born billionaire Elon Musk has offered to buy Twitter for about $41 billion, just days after rejecting a seat on the social media company's ...

Earlier this week, Musk said he had abandoned a plan to join Twitter's board, just as his tenure was about to start. "Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company," Musk said in a letter to Twitter Chairman Bret Taylor.

Elon Musk launches $43bn hostile takeover of Twitter (Moneyweb.co.za)

Musk — Twitter's largest shareholder — offered to buy the remaining shares in the company for more than $43 billion, calling it his final offer. Newsy.

The offer price also includes the number 420, widely recognized as a coded reference to marijuana. The takeover is unlikely to be a drawn out process. He also picked $420 as the share price for possibly taking Tesla private in 2018, a move that brought him scrutiny from the SEC. Twitter needs to be transformed as a private company” The executive is one of Twitter’s most-watched firebrands, often tweeting out memes and taunts to @elonmusk’s more than 80 million followers. Tesla shares fell about 1.5% in pre-market trading on the news.

Elon Musk offers to buy rest of Twitter for $54.20 a share (BizNews)

In a whirlwind 10 days, SpaceX and Tesla founder Elon Musk has offered to purchase the Twitter stock he doesn't already own for $54.20 a share, ...

Mr. Musk is the world’s richest person with a net worth of $251 billion, according to the Bloomberg Billionaires Index. A Twitter shareholder is suing Musk after he failed to disclose his purchase of Twitter stock, making him the majority shareholder of the tech company. Mr. Rasella filed the suit for himself and on behalf of others similarly situated. The lawsuit alleges that Mr. Musk should have filed the disclosure form by March 24. The suit alleges that the move personally benefited Mr. Musk and could have hurt other shareholders who sold the stock. A self-described “free speech absolutist,” Mr. Musk has publicly encouraged the platform to allow a wide range of opinions. The justification of this lawsuit is that an investor is required to disclose their stake after purchasing more than 5% of a company within 10 days; a deadline which Elon Musk missed. Mr. Musk said Thursday that he would consider selling his stake if the deal doesn’t work out. The offer price values the company at $43bn. He put his bid out to the Twitter board, with a hope to make the company private in order to institute what he believes to be necessary changes to Twitter’s business model. On Thursday, Mr. Musk added to those comments. He then spent much of this past weekend tweeting criticisms, suggestions and apparent jokes about the company—before deciding not to join the board earlier this week. In a whirlwind 10 days, SpaceX and Tesla founder Elon Musk has offered to purchase the Twitter stock he doesn’t already own for $54.20 a share, a 38% premium over the day his investment went public.