Elon Musk Launches $43 Billion Hostile Takeover of Twitter

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“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.” So if the offer is rejected, Elon could just sell his stake in Twitter for some massive gains? The stock is up a lot since he bought TWTR, after all.

mindplayful

Billionaire logic: A platform wouldn’t do as I say, so I’ll buy it.

JaimeeNyeStudios

So…he bought up 10% of shares, drove up share value due to the buzzing press around it, made an offer so stupid it was clearly meant to fail, and now he’s going to stomp away after the “rejection” to then sell off all his shares at a profit. Is that right? Is he just doing bump and dump schemes for fun?

mowotlarx

Elon Musk has made a “best and final” offer to buy Twitter Inc., saying the company has extraordinary potential and he will unlock it. The world’s richest man will pay $54.20 per share in cash, representing a 54% premium over the Jan 28. closing price and a value of about $43 billion. The social media company’s shares soared 18%. Musk, 50, announced the offer in a filing with the U.S. Securities and Exchange Commission on Thursday. The billionaire, who also controls Tesla Inc., first disclosed a stake of about 9% on April 4. The executive is one of Twitter’s most-watched firebrands, often tweeting out memes and taunts to @elonmusk’s more than 80 million followers. He has been outspoken about changes he’d like to consider imposing at the social media platform, and the company offered him a seat on the board following the announcement of his stake, which made him the largest individual shareholder. After his stake became public, Musk immediately began appealing to fellow users about prospective moves, from turning Twitter’s San Francisco headquarters into a homeless shelter and adding an edit button for tweets to granting automatic verification marks to premium users. One tweet suggested Twitter might be dying, given that several celebrities with high numbers of followers rarely tweet. Musk can afford it. He’s currently worth about $260 billion according to the Bloomberg Billionaire’s Index, compared with Twitter’s market valuation of about $37 billion.

KarlOveKnau

Shut Twitter down. That horrid platform is one of the worst contributors to our current societal decline.

blueyedtoke