Elon Musk mulling offer to buy Twitter from shareholders for $46.5B
Elon Musk is considering a tender offer to buy Twitter, and has secured $46.5 billion in financing commitments to help finance the potential purchase.
Elon Musk
In an updated filing with the Securities and Exchange Commission on Thursday, Musk said he is now exploring an offer to purchase some or all Twitter shares directly from shareholders, given the lack of response from Twitter's board of directors.
The filing adds that Musk has received commitments worth $46.5 billion to finance the deal, but has not yet determined whether he will make an offer or take additional steps toward one.
Earlier in April, Musk made a bid to buy Twitter outright for $41 billion. That came after the outspoken billionaire became Twitter's largest individual shareholder and was offered a spot on the company's board of directors.
In efforts to fend off a potentially hostile takeover, Twitter has implemented a "poison pill" plan that would give shareholders the ability to purchase more shares at a discount if any person or entity acquires beneficial ownership of at least 15% of Twitter's outstanding common stock.
Musk has criticized Twitter's content moderation policies, and has hinted that he would steer the company toward a hands-off approach to moderation if he purchased the social media platform.
Read on AppleInsider
Elon Musk
In an updated filing with the Securities and Exchange Commission on Thursday, Musk said he is now exploring an offer to purchase some or all Twitter shares directly from shareholders, given the lack of response from Twitter's board of directors.
The filing adds that Musk has received commitments worth $46.5 billion to finance the deal, but has not yet determined whether he will make an offer or take additional steps toward one.
Earlier in April, Musk made a bid to buy Twitter outright for $41 billion. That came after the outspoken billionaire became Twitter's largest individual shareholder and was offered a spot on the company's board of directors.
In efforts to fend off a potentially hostile takeover, Twitter has implemented a "poison pill" plan that would give shareholders the ability to purchase more shares at a discount if any person or entity acquires beneficial ownership of at least 15% of Twitter's outstanding common stock.
Musk has criticized Twitter's content moderation policies, and has hinted that he would steer the company toward a hands-off approach to moderation if he purchased the social media platform.
Read on AppleInsider
Comments
I'm not and have never have been a Twitter user but personally, I hope he fails miserably.
IMHO, he has more than enough on his plate with Tesla, Space X, The boring company, and his brain implants/android.
Glad you hope he fails miserably, especially when you have no horse in the race. Also, if you think he single-handedly runs every company he's involved in, you're just as delusional as Twitter's board.
https://www.techdirt.com/2022/04/18/fascinating-new-study-suggests-again-that-twitter-moderation-is-biased-against-misinformation-not-conservatives/
"Truth Detector"? It's like all the "Patriots" out there - I don't think you know the meaning of the word.
A. State government passes a new law
B. Corporation that operates in the state publicly criticizes the law
C. State government responds with threats to punish the company that criticized the law.
That's a classic 1st amendment violation.
You are free to discuss any right-of-center talking points in your local town corner. Or if you want to discuss more loudly, use one of the several right-wing social media platforms as your audience and megaphone. Of course these sites are small, failing, and command a greater percentage of fringe lunatics than other social platforms.