September 26, 2022

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Elon Musk will buy Twitter for 375 billion - E24

Elon Musk will buy Twitter for 375 billion – E24

Tesla’s boss estimates the company’s bid at 375 billion Norwegian kroner.

Wants to buy Twitter all of it: After a massive investor bought into the company, Musk is now bidding on the entire company, according to an announcement filed with the US Financial Supervisory Authority.
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Twitter has extraordinary potential. I want it to be activated, Elon Musk wrote in a letter to Twitter head Brett Taylor.

It comes out new advertisement From the company sent to the US Financial Supervisory Authority.

The price of $54.20 per share is 54 percent higher than the closing price on January 28, the first time Elon Musk has bought shares on Twitter.

In total, the bid values ​​the company at $43 billion, just over 375 billion crowns, according to Bloomberg.

“This offer is my last and best offer, and if it is not accepted, I will have to reconsider my position as a shareholder,” Musk wrote.

Elon Musk is the richest man in the world, and his fortune is estimated at $259 billion, according to what he reported Bloomberg Billionaires Index.

Twitter’s share is up about 11 percent in pre-trading, and is trading at the time of writing for $51 a share.

About an hour after the bid was announced, Twitter confirms it has been received.

Twitter’s Board of Directors will carefully review the proposal to determine what it believes is in the best interest of the company and all Twitter shareholders, the company writes in a short message.

I think the bid is too low

Analytics agency Vital Knowledge reports that the bid is too low for shareholders and the company’s board of directors, with the company’s stake coming in at $70 less than last year, Bloomberg writes.

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Hire the giant broker-dealer Morgan Stanley as a facilitator.

The show on Twitter contains the combination of numbers “420” which according to Bloomberg is often associated with marijuana, and further writes that Musk also used this number combination when he wanted to take Tesla out of the stock exchange in 2018, which received criticism from the US Financial Supervisory Authority.

I got a board seat – he said no

Musk’s offer comes just a week and a half after it was first announced that he had bought a 9.2% stake in Twitter.

That same week, the company invited Musk to become a member of the company’s board of directors. He later refused, leading to speculation that he might buy more of the company.

The reason is that in the original board seat bid, it was revealed that Musk was not allowed to own more than 14.9% of Twitter shares for the entire time he was sitting on the board.

Musk has been very active in communicating about Twitter on Twitter in recent weeks. Among other things, he suggested that the company’s main office in San Francisco should be rebuilt to become a homeless shelter.

He also insisted on Twitter that they should get a “change” button, something the company later said they were working on.

In the new year, the Norwegian Petroleum Fund owned 0.89 percent of the shares in Twitter, which at that time amounted to NOK 2.7 billion. As of Wednesday evening, Twitter’s share is up 18 percent over the new year.