Elon Musk's 'best and final offer' for Twitter could be renegotiated to favor the Tesla CEO, who could end up getting a discount on the price of the buyout. Find out more at Engineering
Elon Musk's"best and final offer" for Twitter could be renegotiated to favor the Tesla CEO, who could end up getting a discount on the price of the buyout. Hindenberg Research, an investment firm that specializes in short selling, thinks that Musk is in complete control of the turn of events at Twitter now,When Musk formally put forward his proposal to acquire the social media platform last month, the Board was hesitant and pushed for a Rights Plan to.
that have taken place since Musk's offer that has made Twitter's position weaker. Amidst tightening economic policy from the US Federal Reserve, the tech-heavy Nasdaq has dropped over 17 percent. Should Musk walk away from the deal, the Twitter stock that is currently around $48 could slide down to $31, the post said.
Days after accepting Musk's offer, Twitter released its quarterly results which were not only disappointing but also acknowledged that its user base was overstated by about two million users. In his offer, Musk had stated that should the board reject his offer, he would offload his close stake in the company, which would slide the company valuation further.
If the deal were not to go through, Musk could get away from it all, paying just one billion in a break-up fee, which is peanuts for the richest person on the planet. Hindenburg's Twitter account also posted this, to which none other than Elon Musk himself replied. Musk's bright side reference is likely to the fact that if Twitter were priced lower at the end of the deal, he would not have to raise as much money.
We will have to wait a bit longer to see how this pans out. Clearly, the drama of Elon Musk's acquisition of Twitter continues. Stay ahead with the latest science, technology and innovation news, for free:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk plans to quintuple Twitter revenue by 2028 | Digital TrendsProspective Twitter owner ElonMusk believes he can quintuple the company’s revenue by 2028 via various means that include a new subscription tier called 'X.'
Read more »
Elon Musk jokes he may die after Twitter row with Russia's Dmitry RogozinThe U.S. billionaire tweeted 'it's been nice knowing ya' after Rogozin reportedly said he would be 'held accountable' for supplying tech to Ukraine.
Read more »
Elon Musk Says His Twitter Plans Align With EU’s New Social-Media RulesThe tech entrepreneur met with Europe’s commissioner for the internal market during a visit to Austin, Texas, where the two discussed the European Union’s new Digital Services Act, or DSA.
Read more »
Report: Elon Musk Expected to Serve as Temp CEO of TwitterRecent reports state that Tesla CEO Elon Musk is expected to serve as temporary CEO of Twitter following his $44 billion takeover of the social media firm.
Read more »
Elon Musk fears his life could be in danger for supporting UkraineElon Musk rushed to support Ukraine as Russian aggression began. Now, he fears Russia might target him for his stance.
Read more »