Elon Musk Wants to Buy 100% of Twitter in Hostile Takeover for $43 Billion
“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. My offer is my best and final offer and if it’s not accepted, I would need to reconsider my position as a shareholder,” Musk wrote.The document makes clear Musk’s offer of $54.
“This is not a threat,” Musk said in what was clearly a threat. “It’s simply not a good investment without the changes that need to be made,” Musk continued.Musk is a frequent tweeter and often makes crude and juvenile jokes on Twitter that can get him into trouble.
from the SEC. When you’re the wealthiest person in the world, a fine of just $40 million is the kind of chump change you find in your couch cushions.Musk was sued this week by an investor in Twitter over his failure to properly disclose his huge stake in the company. Legally, Musk was required to file a notice with the SEC once he bought 5% of Twitter. But Musk didn’t file the proper paperwork until April 4, a full.
What happens now? Twitter has to decide whether to accept this generous offer, or turn it down and deal with a lot of pissed off shareholders.
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