Posted on 04/14/2022 1:41:06 PM PDT by BlackFemaleArmyColonel
While Elon Musk is trying to buy Twitter Inc., he’s no longer the company’s largest shareholder.
Funds held by Vanguard Group recently upped their stake in the social-media platform, making the asset manager Twitter’s largest shareholder and bumping Mr. Musk out of the top spot.
Vanguard disclosed on April 8 that it now owns 82.4 million shares of Twitter, or 10.3% of the company, according to the most recent publicly available filings with the U.S. Securities and Exchange Commission.
The asset-manager increased its stake in the company at some point during the first quarter, according to the filings. Vanguard’s holdings are now worth $3.78 billion, based on Twitter stock’s closing price on Wednesday.
That’s enough to knock Mr. Must off the perch as Twitter’s largest shareholder, according to FactSet.
Vanguard isn't making a directional bet on Twitter. Instead, the majority of its assets are in index and other so-called passive funds. The firm often sides with management on voting issues and doesn’t advocate for changes like a hedge fund or activist investor might.
Mr. Musk initially disclosed a stake in Twitter earlier this month of almost 73.5 million shares, but a day later his disclosed stake dropped to 73.1 million shares, or 9.1% of the company. The position momentarily made him the largest shareholder in the company.
Vanguard previously reported owning 67.2 million shares of Twitter or about 8.4% of the company as of the end of December, according to FactSet.
Vanguard declined to comment.
Mr. Musk along with former Twitter Chief Executive Jack Dorsey, who is number seven on the list, are the only individuals among the top 10 shareholders in the company.
The rest of the spots are occupied by financial institutions.
(Excerpt) Read more at wsj.com ...
Unless you’re a mod, knock it off. I dislike being told what to do by those without the authority to do so.
CC
Now we know what the emergency all hands on deck meeting for all Twatter employees was about at the end of the trading day was about
If Musk sold all his shares would the twits tank?
Each fund has a prospectus that must be followed by law.
“Unless you’re a mod, knock it off. I dislike being told what to do by those without the authority to do so.”
Obviously you didn’t read my post. I didn’t tell you or anyone else to do anything in that post.
OTOH, YOU are telling me what to post and not post. Unless you’re a mod, knock it off. I dislike being told what to do by those without the authority to do so.
“I dislike being told what to do by those without the authority to do so.”
I posted a copy of JR’s recent post. It is he, not me, telling you what to not post and he has the authority!
As I understand it, Twitter’s basing their poison pill strategy on the assumption that the hostile takeover attempt accompanies a profit motive. Musk is proposing 53 dollars a share to a stock that’s only valued at 10. Profit is not clearly a motive here. Although, it may result in a healthy profit anyway.
1. Clean yer glasses.
2. Put down the glass.
3. Clean your screen.
Take your pick...but you are a tad off.
Sounded like it was your post, not Jim’s. I don’t plan on violating his edicts anyway. But if you’re that concerned by other’s transgressions why don’t you become a moderator?
CC
Technically, Vanguard doesn’t own the shares, their clients do. Any action to vote those shares requires client proxies. OTOH, Vanguard could dump the shares but likely face a lawsuit if, as Elon said, they abrogate their fiduciary responsibility.
“Sounded like it was your post, not Jim’s.”
First line gives credit:
Posted on 1/24/2021, 2:31:27 PM by Jim Robinson
I apologize. It was perry-winkle.
You are the dude that butted in and has been trolling me for years.
You missed my point entirely. Not suprising. And you completely ignored my suggestion about becoming a moderator. Again, not suprising.
CC
I did’t post to you so
Unless you’re a mod, knock it off. I dislike being told what to do by those without the authority to do so.
Oh my goodness!! Could you be any more wrong and tone-deaf?
A. I'm a girl.
B. This is the first convo I've had with you, IIRC. Cos, if I'd been trolling you for *years* you'd have known better than to engage me.
You are wrong. You have a bad case of "mod-wanna-be" going on. You pontificate...laws how I hate pontificating! Now just hush up. Stop bossing people around, stop shadow modding, and get yer thinking straight.
Would your parrot like a cracker?
CC
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