Posted on 04/14/2022 8:20:26 AM PDT by Altura Ct.
Elon Musk has made a public offer to buy 100 percent of Twitter stock and transform it into a public company, in what the billionaire SpaceX and Tesla CEO says will unlock the company’s potential to be “the platform for free speech around the globe.”
Musk, who became Twitter’s largest shareholder with a 9.2 percent purchase of shares over the last few months, made a public offer to buy 100 percent of the company at $54.20 a share, an 18 percent premium over Twitter’s closing price yesterday.
At Musk’s quoted price, the proposed purchase of Twitter would come to $43 billion in total.
In his publicly disclosed communication to the chairman of Twitter’s board, which can be read in full here, Musk said promoting free speech around the world was the motivation behind his offer.
Musk said he did not believe Twitter could reach its potential for free speech as a publicly owned company, saying “Twitter needs to be transformed as a private company.”
(Excerpt) Read more at breitbart.com ...
Hee hee.
Checkmate.
Take it over and fire all the fascists.
I’m thinking Twitter is about get sold.
I doubt they’ll turn down that price, IMHO.
I hope they sell but it blows his cover to announce intentions of it prior to obtaining it.
John Malone taking control of CNN.
Elon Musk offering to buy Twitter.
I hope this continues.
Twitter only has enhanced valuation in Elon’s hands. No one else. Folks will flock to twitter when they learn that the premier free speech advocate is going to open it up to them and the world. He should be able to take business from other social media platforms as well as building new subscribers.
This is an existential crisis for the Left.
They will fight him with everything they’ve got.
“I hope they sell but it blows his cover to announce intentions of it prior to obtaining it.”
He is already being sued for missing the 10 day deadline for purchasing more than 5%.
I think it’s the law..................
When I read the 1st line and the last line of your excerpt of the article then they seem to contradict one another. What am I missing? Public or private?
As of this morning the “Wall Street” bets are that the Twitter board will decide/vote to not accept the offer from Musk, using as their reason that the offer ($54.20/share) is lower than what the board thinks is the true value for the company - regardless of what the market share price is at the moment.
Over the next days and weeks some valuations of twitter from various different investment folks will be made, for Twitter, for some large investors, and for some owner-investors that think they would support Musk’s offer. I am sure Mush has already done that himself. From that process, a legal approach supporting the Musk offer may arise, where a claim is made that by denying the Musk offer the Twitter board made a decision against the best interests of the Twitter shareholders.
If that transpires, then such a claim may head to court. Then the Twitter board would have to decide to defend their actions in court, and maybe just drag the process out in court, or do some serious negotiations with Musk, if Musk is willing.
We’ll have to just watch and see what happens.
Why would he need 100 percent?
The reason he wants to buy 100% is to take it PRIVATE, not just a 51% controlling interest.
Stop asking logical questions and just swoon over the cool headline.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.