https://sputnikglobe.com/20220419/musk-plans-to-put-up-to-15bln-of-own-cash-to-fund-twitter-takeover---reports-1094895552.html
Musk Plans to Put Up to $15Bln of Own Cash to Fund Twitter Takeover - Reports
Musk Plans to Put Up to $15Bln of Own Cash to Fund Twitter Takeover - Reports
Sputnik International
NEW YORK (Sputnik) - Billionaire businessman Elon Musk is looking to invest up to $15 billion of his money to delist Twitter from the New York Stock Exchange... 19.04.2022, Sputnik International
2022-04-19T19:37+0000
2022-04-19T19:37+0000
2023-04-14T13:01+0000
takeover
social media
free speech
deal
elon musk
x (formerly twitter)
https://cdn1.img.sputnikglobe.com/img/07e6/04/10/1094823226_0:0:3069:1727_1920x0_80_0_0_f3dc242e71bd1d3f6e664a7424989615.jpg
Musk, who is estimated by Forbes to be worth some $270 billion, making him potentially the world’s richest person, bought a 9.1% stake in Twitter for about $3 billion two weeks ago and followed that up with a $43 billion offer for the remaining shares which he did not already own in the world-popular microblogging service.Despite his wealth, Musk appeared to be facing difficulty in raising money for the deal, the Post said. It said the billionaire chief executive of electric car-maker Tesla and space travel company Space X was planning to launch a tender offer in about 10 days where Wall Street bank Morgan Stanley could raise a further $10 billion in debt.Several private-equity firms also seem keen in participating in a deal for Twitter, the Post said.Musk declared on Monday that he will not take a penny in salary if appointed to Twitter's board of directors, unofficially sweetening his takeover bid.Saudi Prince Alwaleed bin Talal, a substantial shareholder in Twitter, has described Musk’s offer of $54.20 for a share of the company versus Tuesday’s traded price of around $46.50, as below value.Twitter’s board is also opposed to Musk’s offer. The company announced on Friday that its board of directors have adopted a shareholder rights plan — or so-called Poison Pill — to reduce the likelihood that any person, entity or group would be able to gain full control over the company without paying a premium.Some analysts who have studied Musk's bid flag concerns for both sides, saying Musk could revolutionize Twitter’s free-speech model against the will of its board, but also use his influence on the platform to silence criticism against decisions he makes at Tesla and his other businesses.
https://sputnikglobe.com/20220418/musk-sweetens-offer-for-remaining-stake-at-twitter-saying-will-take-0-salary-1094865521.html
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takeover, social media, free speech, deal, elon musk, x (formerly twitter)
takeover, social media, free speech, deal, elon musk, x (formerly twitter)
Musk Plans to Put Up to $15Bln of Own Cash to Fund Twitter Takeover - Reports
19:37 GMT 19.04.2022 (Updated: 13:01 GMT 14.04.2023) NEW YORK (Sputnik) - Billionaire businessman Elon Musk is looking to invest up to $15 billion of his money to delist Twitter from the New York Stock Exchange and take it private to pursue his aim of making the social media giant a model of free speech, the New York Post reported Tuesday, citing sources in the know.
Musk, who is estimated by Forbes to be worth some $270 billion, making him potentially the world’s richest person, bought a 9.1% stake in Twitter for about $3 billion two weeks ago and followed that up with a $43 billion offer for the remaining shares which he did not already own in the world-popular microblogging service.
Despite his wealth, Musk appeared to be facing difficulty in
raising money for the deal, the Post said. It said the billionaire chief executive of electric car-maker Tesla and space travel company Space X was planning to launch a tender offer in about 10 days where Wall Street bank Morgan Stanley could raise a further $10 billion in debt.
Several private-equity firms also seem keen in participating in a deal for Twitter, the Post said.
Musk declared on Monday that he will not take a penny in salary if appointed to Twitter's board of directors, unofficially sweetening his takeover bid.
Saudi Prince Alwaleed bin Talal, a substantial shareholder in Twitter, has described Musk’s offer of $54.20 for a share of the company versus Tuesday’s traded price of around $46.50, as below value.
Twitter’s board is also opposed to Musk’s offer. The company announced on Friday that its board of directors have adopted a shareholder rights plan — or so-called Poison Pill — to reduce the likelihood that any person, entity or group would be able to gain full control over the company without paying a premium.
Some analysts who have studied Musk's bid flag concerns for both sides, saying Musk could
revolutionize Twitter’s free-speech model against the will of its board, but also use his influence on the platform to silence criticism against decisions he makes at Tesla and his other businesses.
