Posted on 04/14/2022 4:17:59 AM PDT by bryan999
Elon Musk offered to buy Twitter for $54.20 a share, saying the social media company needs to be transformed privately, a little over a week after first revealing a 9.2% stake in the company.
“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 wrote in a letter sent to Twitter Chairman Bret Taylor and disclosed in a securities filing.
According to Musk, the social media company needs to go private because it can “neither thrive nor serve” free speech in its current state.
“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 and a 38% premium over the day before my investment was publicly announced,” he wrote. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.”
(Excerpt) Read more at cnbc.com ...
Hyman not Simon! LOL
Go Musk GO!
Boom, Kraken, BOOM!
“Musk only needs to acquire 51% of Twitter common stock to effectively own Twitter”
Institutional ownership is 77%, if they collude together they hold all the cards. Safe to say of the over 1,000 institutions that own Twitter shares a majority are ran by libetards.
New tagline.
“he needs to purge the woke totalitarians.”
I hope they quit en masse and join CNN+
Foreigners and women
why would he do that? TS is ultimately run from China (follow the money). And cannot even get all the people on now. Loser service.
Each day I am convinced the far left has already lost its collective mind.
Many of them are not mentally well.
Along with the standard white, male, power players.
:)
I would suggest emotional support leeches.
There isn’t enough Kleenex in the whole state to stop that flood of Socialist wannabe elitist trash tears.. 🤣
I believe I read yesterday that Vanguard owns a large amount of shares. Blackrock may also be a large shareholder.
His offer is for 100% of all shares, not 50%
Democrats think corporations are for the benefit of employees who work there. Unions should control
As we post, Biden et al are blaming inflation on greedy corporations.
Corporations exist to provide return on investment for stock holders.
You’re right. With institutional investors holding just over 3/4 of Twitter common stock, it would be difficult if not impossible for Musk to acquire the 51% of Twitter common stock needed to own/totally control Twitter.
Like you said many if not most of these institutional investors are Libtards with evil agendas and they like Twitter to continue censoring Trump, conservatives and others who stand in the way of their agendas!
The objective is to increase his holdings with the shares from the smaller stockholders until he has enough to control or push a full sale of Twitter.
All the folks holding 2-300 shares of stock would be able to recoup their losses from when they purchased, and walk away clean.
If not accepted, Musk sells and the price will plunge to $9 a share and the holdings will not keep the company floating. Musk could then offer to buyout for the lower amount he is offering and still wind up owning the company.
There is one other thing. Dorsey is having remorse about taking Twitter to where it is now, and if HE sells to Musk, basically Musk takes control without any bloodshed. At least until the pink slips start going out 3 months from the takeover. Takes about that long to do personnel evaluations, hire replacements, if I read Musk correctly, move the operation to someplace friendlier, like Texas or Florida if he wants better talent.
If I knew how I would buy a few shares so I could sell them to Elon.
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