Elon Musk posted a mysterious tweet that was seen as a sign that he may be preparing a new approach to buying Twitter.
The company on social media has launched a so-called “poison pill” move to make it harder for Mr. Mask or any group of investors to accumulate a controlling stake in the company.
It came after the world’s richest man made a $ 43 billion bid buy twitter and take it privately. Last week, it emerged that Mr Musk had acquired a 9.1% stake in Twitter and is the company’s second-largest shareholder in social media.
On sunday Mr. Musk kept investors in check when he tweeted “Love Me Tender,” which sparked a flurry of speculation online.
Some commentators have suggested that the reference to Elvis Presley’s famous song suggests that Mr Musk hopes to reach out directly to Twitter shareholders. Such a move could allow him to bypass the Twitter board.
Earlier, Mr. Musk tweeted a question in which he asked users if they agreed with the statement: “Shareholders need a private price of $ 54.20 to shareholders, not boards.”
In separate comments, the head of the billionaire company Tesla criticized the board of Twitter, arguing that its interests no longer coincide with the interests of shareholders.
He responded to a tweet stating that the board “collectively does not own shares” after the departure of founder Jack Dorsey.
Twitter’s stock price was $ 45.08 before markets opened on Monday, well below Mr. Mask’s offer of $ 54.20 per share.
However, there are significant obstacles to any acquisition. The board of the social networking platform drafted the annual “Rights Plan” on Friday, the day after it received an “undesirable, optional” offer from Mr. Mask.
Under the plan, shareholders will be given the opportunity to buy shares of Twitter at a reduced price if Mr. Musk increases his stake to more than 15 percent of the company.
This would reduce Mr. Mask’s rate, which would complicate the takeover.
“The rights plan is designed to allow all shareholders to realize the full value of their investment in Twitter,” the board said in a statement.
“The rights plan will reduce the likelihood that any organization, individual or group will gain control of Twitter through accumulation in the open market without paying all shareholders an appropriate control premium or without giving the Board enough time to make informed judgments and take action. the best. the interests of shareholders. “
Although Mr. Musk’s unexpected approach to Twitter attracted the attention of his huge online subscribers, investors were alarmed by his apparent distraction from Tesla’s management. Shares of electric cars have fallen by 9.2% in recent days.
Ilona Mask’s tweet “Love Me Tender” has sparked speculation about a $ 43 billion bet on Twitter
Source link Ilona Mask’s tweet “Love Me Tender” has sparked speculation about a $ 43 billion bet on Twitter