Good day all. This is a breaking story, but it looks like Elon Musk has just pulled the trigger and tendered an offer to take Twitter private in a deal worth over $40 billion dollars.
The details are still coming out, but it looks like Musk is going to offer the shareholders $52.20 a share. Here are the details to date from Fox Business News:
Tesla CEO Elon Musk offered to buy Twitter in a deal worth more than $43 billion and take the social media company private. Musk’s best and final offer was to pay $54.20 per share for 100% of Twitter, and said that if his offer was not accepted he’d have to reconsider his position as a shareholder, according to an SEC filing.
Well, that puts the shareholder in an interesting pickle. If they turn down Musk’s offer and he sells his stake, the share price will drop significantly. Twitter has never really done all that well in the markets and this could cause a potential run for the doors as institutional and individual investors head for the door.
On the other hand, if Musk’s offer is accepted, all the little twitlers that work at Twitter will see their safe space go bye bye bye. Elon Musk will, of course, fire the current CEO and closet totalitarian and put his own management staff in place. They will, no doubt, lay down the law to the twitlers who have been running rampant and suppressing the speech of people they don’t like.
It will be a few days, probably well into next week before a response is made by the shareholders. I suspect that most of them will vote to take the offer and Twitter will be taken private. When that happens, we can expect this to occur as all the little twitlers find out that their “feewings” mean nothing to Musk’s management team.
The next few weeks should be very entertaining.
Thatisall
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