Skip to content
25/09/2023
  • Facebook
  • Instagram
  • Youtube
MW3.News

MW3.News

Web News Portal

Connect with Us

  • Facebook
  • Instagram
  • Youtube

Categories

Tags

afghan afghanistan afghans biden bolsonaro Boris Johnson brazil Business Celebrities china chinese coronavirus covid covid 19 covid19 covid passport Economy england Europe Fame football freedom green pass Health kabul lockdown Music mw3 news news no green pass no vaccine passports pfizer politics russia singer song sports taliban travel trump UK USA vaccine vaccine passport war

Authors & Contributors

MW3.News
Lane Sofig (225)

Writer and contributor at MW3.News Portal

Baby Died After Her Mother Left Her On A Trip For Six Days
Will Lisil (13)

Director & Digital Creator at MW3.biz Ltd, United Kingdom.

OUTSPOKEN: Why Brazil Is The Most Important Country Right Now? By Will Lisil
Willy Walker (9)

Writer and contributor at MW3.News Portal

Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl
  • Home
  • Music News Portals
    • RockCharts.News
    • PopHits.News
    • TopMusic.News
    • IndieRock.News
    • RapStar.News
    • AfroMusic.News
    • PopHits.Co Music Charts
  • Contact
Watch Online
  • Home
  • Business
  • Elon Musk Offers $41 Billion To Buy Twitter
  • Business
  • Economy

Elon Musk Offers $41 Billion To Buy Twitter

Lane Sofig 14/04/2022 3 min read

The Tesla CEO announced a $41 billion cash offer for Twitter on Thursday, prompting a surge in shares of the social media giant, which Musk says needs to go private to grow and become a free speech platform.   

“Twitter has extraordinary potential. I will unlock it,” Musk said in a letter to Twitter’s board on Wednesday, which was made public in a regulatory filing on Thursday.

I made an offer https://t.co/VvreuPMeLu

— Elon Musk (@elonmusk) April 14, 2022

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk wrote. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form.”

  • Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl
  • Baby Died After Her Mother Left Her On A Trip For Six Days
  • OUTSPOKEN: Why Brazil Is The Most Important Country Right Now? By Will Lisil
  • How To Build My Artistic Identity In The Metaverse?
  • The Spike Protein From Covid Vaccine Can Persist In The Body For Months, Causing Debilitating Symptoms, According To A Study

Musk’s offer price of $54.20 per share is 38% higher than Twitter’s April 1 close, the last trading day before Musk made public his more than 9% stake in the social media platform.   

In a move analysts said signalled his intention to take over the company, the billionaire recently rejected an offer to join Twitter’s board after disclosing his stake. A board seat would have limited his stake to under 15%.

“Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” Musk said in his letter to Twitter Chairman Bret Taylor.

Musk, who calls himself an absolutist of free speech, has criticized the social media platform and its policies, and recently issued a Twitter poll asking users whether they believe it adheres to the principle of free speech.

“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk added.

Goldman Sachs and Wilson Sonsini Goodrich & Rosati will advise Twitter on its offer, according to Reuters. 

Shares in Twitter jumped 12% in premarket trading, while those of Tesla fell about 1%. Twitter’s Wednesday closing price of $45.85 implied a 35% chance of accepting Musk’s offer in pre-market trading in New York.

Based on Refinitiv data, the total deal value of $41 billion was calculated using 763.58 million shares outstanding.

Morgan Stanley acted as Musk’s financial adviser for the offer. If the sale proceeds, he did not specify how he would finance it.

“The big question for the Twitter board now is whether to accept a very generous offer for a business that has been a serial underperformer and tends to treat its users with indifference,” Michael Hewson, Chief Market analyst at CMC Markets, said after the announcement of Musk’s offer.

Since joining Twitter in 2009, Musk has amassed more than 80 million followers and has used the platform to make several announcements, including teasing a go-private deal for Tesla that landed him in hot water with regulators.

Former Twitter shareholders have also sued him, alleging that they missed out on the recent run-up in the company’s stock price since he waited too long to divulge his stake.

In recent months, Twitter’s user growth has been slower than expected, even as it pursues big projects such as audio chat rooms and newsletters.

“It would be hard for any other bidders/consortium to emerge and the Twitter board will be forced likely to accept this bid and/or run an active process to sell Twitter,” Wedbush Securities analyst Daniel Ives wrote in a client note.

“There will be the host of questions around financing, regulatory, balancing Musk’s time (Tesla, SpaceX) in the coming days but ultimately based on this filing it is a now or never bid for Twitter to accept,” Ives said.

About Post Author

Lane Sofig

Writer and contributor at MW3.News Portal

See author's posts

Tags: Business Economics Economy Elon Musk freedom Freedom Speach tesla Twitter

Continue Reading

Previous: Elon Musk Becomes Twitter’s Largest Shareholder
Next: Elon Musk Buys Twitter For $44 billion

Related Stories

Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl Daniel Negreanu
3 min read
  • Business

Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl

27/10/2022
How To Build My Artistic Identity In The Metaverse?
9 min read
  • Blog

How To Build My Artistic Identity In The Metaverse?

23/07/2022
Elon Musk Buys Twitter For $44 billion
1 min read
  • Business

Elon Musk Buys Twitter For $44 billion

25/04/2022

Recent Posts

  • Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl
  • Baby Died After Her Mother Left Her On A Trip For Six Days
  • OUTSPOKEN: Why Brazil Is The Most Important Country Right Now? By Will Lisil
  • How To Build My Artistic Identity In The Metaverse?
  • The Spike Protein From Covid Vaccine Can Persist In The Body For Months, Causing Debilitating Symptoms, According To A Study

Categories

About Author

MW3.biz

Connect with Us

  • Facebook
  • Instagram
  • Youtube

You may have missed

Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl Daniel Negreanu
3 min read
  • Business

Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl

27/10/2022
Baby Died After Her Mother Left Her On A Trip For Six Days
4 min read
  • Europe

Baby Died After Her Mother Left Her On A Trip For Six Days

27/07/2022
OUTSPOKEN: Why Brazil Is The Most Important Country Right Now? By Will Lisil
3 min read
  • Brazil

OUTSPOKEN: Why Brazil Is The Most Important Country Right Now? By Will Lisil

26/07/2022
How To Build My Artistic Identity In The Metaverse?
9 min read
  • Blog

How To Build My Artistic Identity In The Metaverse?

23/07/2022

Advertise it!

The MW3.News is an international network of information channels.

A variety of web news portals, digital magazines, and other media channels for information flow and marketing services.

Promote your work, services, brand and products with us.

Out of sight, out of mind!
Contact us: Click here

Recent Posts

  • Daniel Negreanu Finally Breaks His Losing Streak to Win Big in Super High Roller Bowl
  • Baby Died After Her Mother Left Her On A Trip For Six Days
  • OUTSPOKEN: Why Brazil Is The Most Important Country Right Now? By Will Lisil
  • How To Build My Artistic Identity In The Metaverse?
  • The Spike Protein From Covid Vaccine Can Persist In The Body For Months, Causing Debilitating Symptoms, According To A Study
  • Home
  • Blog
  • Contact
  • Privacy Policy
  • Facebook
  • Instagram
  • Youtube
Copyright © - MW3.news Portal - All rights reserved | DarkNews by AF themes.