Thunder Bay – TECH – Elon Musk is planning a takeover of Twitter. The founder of Tesla and Space-X is looking at acquiring Twitter as a logical next step forward for the entreprenuer.
In his SEC filed offer, Musk states, “As I indicated this weekend, I believe that the company should be private to go through the changes that need to be made.
“After the past several days of thinking this over, I have decided I want to acquire the company and take it private.
“I am going to send you an offer letter tonight, it will be public in the morning.
1. Best and Final:
a. I am not playing the back-and-forth game.
b. I have moved straight to the end.
c. It’s a high price and your shareholders will love it.
d. If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder.
i. This is not a threat, it’s simply not a good investment without the changes that need to be made.
ii. And those changes won’t happen without taking the company private.
Twitter in a press release: “Twitter, Inc. (NYSE: TWTR) today confirmed it has received an unsolicited, non-binding proposal from Elon Musk to acquire all of the Company’s outstanding common stock for $54.20 per share in cash.
“The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders.”
Some stock analysts are suggesting that in the offer from Musk, it is a worse case scenario for Twitter.
Elon Musk is a genius.
This was his plan all along.
Buy 100% of Twitter and if they refuse he dumps his stock & twitters shares plummet. Then he can buy it for next to nothing ????????????. pic.twitter.com/tsLMT5mWPj
— Freedom over Fear???? (@PatriotNz2022) April 14, 2022
The company which many users find a very helpful source for news and information links and tweets does not crowd up one’s timeline like other social media, however it has not been a major income earner.