https://sputnikglobe.com/20220416/this-is-not-over-elon-musk-turns-to-investors-after-twitter-takes-the-poison-pill-1094803406.html
‘This is Not Over’ Elon Musk Turns to Investors After Twitter Takes the Poison Pill
‘This is Not Over’ Elon Musk Turns to Investors After Twitter Takes the Poison Pill
Sputnik International
Following Twitter’s adoption of a poison pill provision to prevent Elon Musk from acquiring more than 15% of the company, conversations between Musk and... 16.04.2022, Sputnik International
2022-04-16T03:05+0000
2022-04-16T03:05+0000
2023-04-14T13:01+0000
poison pill
elon musk
twitter
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According to sources, the plan to purchase Twitter may be announced in the coming days, with one saying, “This is not over.”One option that is being considered would see Musk and the private-equity firm Silver Lake Partners launch a bid to take control of Twitter, the source said.Silver Lake Partners’ Co-CEO, Egon Durban, is a Twitter board member, and Silver Lake had plans to co-invest with Musk when he floated the idea of taking Tesla private in 2018. Silver Lake has declined to comment.Musk could also come back to Twitter with a new offer. On Thursday, he offered to buy Twitter at $54.20 a share. Shares had been trading at around $45. Whether he will trump that offer or find new partners still remains unknown. Musk currently owns 9.1% of Twitter.Following Musk’s first attempt to up his share of Twitter from 9.1% to 15%, Twitter adopted a poison pill to fend off the purchase. The measure would trigger a flood of new shares if Musk were to reach the 15% threshold.However, it is unknown if the poison pill will be able to stop others from securing 15% of the company. There is a scenario where another entity could partner with Musk to force Twitter’s hand through a sale, overhaul in the executive ranks, or a drive fan overhaul of the company.Even though Twitter has announced the poison pill, they have not yet filed it with the SEC. Without the SEC filing, it is unknown if the measure will prevent other investors from buying more than a 15% stake in the company.Musk’s plan to purchase Twitter could face an uphill battle. On Thursday, Saudi Arabian investor and major Twitter shareholder Prince Alwaleed bin Talal said he had rejected Musk’s takeover bid.It also appears that rival offers could be on the horizon. Thomas Bravo, a private-equity firm, has told Twitter that it is investigating a potential bid for the company.
https://sputnikglobe.com/20220415/twitters-board-of-directors-adopts-plan-to-block-elon-musks-buyout-offer-1094795880.html
https://sputnikglobe.com/20220404/twitter-stocks-up-by-over-a-quarter-after-elon-musk-buys-9-stake-1094464265.html
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poison pill, elon musk, twitter
poison pill, elon musk, twitter
‘This is Not Over’ Elon Musk Turns to Investors After Twitter Takes the Poison Pill
03:05 GMT 16.04.2022 (Updated: 13:01 GMT 14.04.2023) Following Twitter’s adoption of a poison pill provision to prevent Elon Musk from acquiring more than 15% of the company, conversations between Musk and investors have picked up in a renewed bid to purchase the social media platform, sources told The New York Post.
According to sources, the plan to purchase Twitter may be announced in the coming days, with one saying, “This is not over.”
One option that is being considered would see Musk and the private-equity firm Silver Lake Partners launch a bid to take control of Twitter, the source said.
Silver Lake Partners’ Co-CEO, Egon Durban, is a Twitter board member, and Silver Lake had plans to co-invest with Musk when he floated the idea of taking Tesla private in 2018. Silver Lake has declined to comment.
Musk could also come back to Twitter with a new offer. On Thursday, he offered to buy Twitter at $54.20 a share. Shares had been trading at around $45. Whether he will trump that offer or find new partners still remains unknown. Musk currently owns 9.1% of Twitter.
Following Musk’s first attempt to up his share of Twitter from 9.1% to 15%, Twitter adopted a poison pill to fend off the purchase. The measure would trigger a flood of new shares if Musk were to reach the 15% threshold.
However, it is unknown if the poison pill will be able to stop others from securing 15% of the company. There is a scenario where another entity could partner with Musk to force Twitter’s hand through a sale, overhaul in the executive ranks, or a drive fan overhaul of the company.
Even though Twitter has announced the poison pill, they have not yet filed it with the SEC. Without the SEC filing, it is unknown if the measure will prevent other investors from buying more than a 15% stake in the company.
Musk’s plan to purchase Twitter could face an uphill battle. On Thursday, Saudi Arabian investor and major Twitter shareholder Prince Alwaleed bin Talal said he had rejected Musk’s takeover bid.
It also appears that rival offers could be on the horizon. Thomas Bravo, a private-equity firm, has told Twitter that it is investigating a potential bid for the company.
