Following Elon Musk’s disclosure in a Securities & Exchange Board (SEC) statement last week that he has the stats to rebuild his bid, Twitter is apparently shifting gears in regards to his multi-billion dollar offer to purchase the firm.
It’s Been a Tough Week for Twitter
The Wall Street Journal reported that “Twitter had been expected to reject Mr. Musk’s offer, which he made earlier in the month without saying how he would pay for it.”
“However, following his announcement last week that he now has $46.5 billion in funding, Twitter is reevaluating the proposal and is much more likely than ever before to seek to bargain.”
The condition is known as “fast-moving” in the paper, with the two parties gathering and are expected to discuss Musk’s proposition.
When it announces its first-quarter results later this week, the business is anticipated to “weigh in on the deal.”
Elon Musk could have a silent partner in his $44 billion deal to buy Twitter: the U.S. tax code https://t.co/3IgOGh14ym
— Bloomberg (@business) April 26, 2022
“Mr. Musk held meetings with several Twitter investors on Friday to laud the advantages of his proposal while stressing the company has a ‘yes-or-no’ decision to make,” the story stated.
“Whether his bid succeeds or fails, he also promised to address the free speech issues that he sees as hurting the platform and the country as a whole.”
Musk disclosed in a recent SEC filing that he raised $46.5 billion from three sources to buy the shares, namely $13 billion via Morgan Stanley, $12.5 billion from other institutions, and $21 billion by himself.
“We will battle the spambots or die in the attempt if our Twitter bid wins!” Musk responded to the SEC filing with a tweet. “As well as authenticate all genuine humans.”
Musk is allegedly considering making a tender offer to target his offer to investors, which could happen as soon as this week.
The Details
A “tender offer,” according to the Stock and Exchange Commission (SEC), is “usually an active and extensive solicitation by a corporation or third party (commonly referred to as the ‘bidder’ or ‘offeror’) to acquire a significant portion of the company’s equity.”
A tender offer is presented to everyone who holds shares in the company for a limited time and is only free for a limited time.
The price offered to buy the shares is fixed and usually represents a premium over the stock’s existing market value.
Elon Musk has committed to nothing except more transparency and more free speech — and the Left is melting down. Which shows two things:
1. They hate transparency and free speech;
2. They always assumed Twitter opposed both, then gaslit everyone that Twitter wasn't biased.— Ben Shapiro (@benshapiro) April 26, 2022
In a post over the week, former Twitter Founder and CEO Jack Dorsey blasted the company’s board members, which comes after inventor and world’s richest man Elon Musk proposed $43 billion to acquire the firm altogether last week.
“I dig into the past of Twitter panel. It’s intriguing since I was a witness on its initial conception, mired in conspiracies and coups, and notably amongst Twitter’s original members,” Dorsey said in response to the following tweet.
“It’s always been the company’s dysfunction,” Dorsey replied.
