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Few personalities are more talked about than Elon Musk, for many reasons, most of which are related to their companies. And those that could be their businesses. A few days ago, it became known that Elon had become Twitter’s largest shareholder by buying just over 9% of the total shares. It seems that’s not enough for the tycoon, who has now made a tens of billions-dollar bid to buy Twitter.
Elon Musk launches $43 billion takeover bid on Twitter
Elon Musk during a press conference at the Kennedy Space Center in Cape Canaveral in January 2020.
Reuters
The offer made by the businessman is 54.20 dollars per share, which would mean a payout of more than 43,000 million dollars if the shareholders accepted this amount.
And on that possibility, Musk preempted possible negotiations saying that this will be his only offer, and if it’s rejected he will reconsider buying any part of the company, which is kind of a secret threat.
On paper, Elon’s proposal makes sense because it represents a premium of just over 50% to the value of the company before Elon announced he was buying stock.
It is now up to the shareholders to accept said offer or continue to run the company as be fore. The general meeting will consider the “unsolicited and non-binding” proposal
It might also have to go through the regulatory review process, but as Matt Lenive explains, it does not seem that in this case there are many problems to allow the movement.
Elon Musk wants to revolutionize Twitter
The manager explained that the vision for the future he has for the social network could not be realized at the moment, due to the limits he sees in the development of the product and the obligations that the company has when it is listed on the stock market. So, would like to make it a fully private company
The problem is that Elon Musk has an extremely controversial personality and their decisions may not be adequate for what a social network as important as Twitter needs, where almost all conversations around current and political issues are generated.
There have been many times that Elon has taken a controversial position on aspects such as freedom of speech, politics in democratic countries and many other issues.
That the online service remains exclusively at the mercy, and not partial as we thought so far, may not be the best thing that can happen to Twitter. But it’s also possible that Elon’s vision will turn this company into something similar to what Tesla or Space X are today. Of course, it could also be something like The Boring Company.
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