The richest man in the world is really rich. After becoming the largest shareholder, Musk is not satisfied with this, and he has to buy Twitter directly.
Musk said in a letter to Twitter chairman Brett Taylor,“I invested in Twitter because I think it has the potential to become a global platform for free speech, which I believe is a social condition necessary for a democracy to function properly.”
However, Musk said that since investing, he realized that Twitter “will neither thrive nor serve free speech,” so Twitter must be privatized and, at the same time,Musk also said he would open-source Twitter’s algorithm.
It is reported that on April 14, Tesla CEO Elon Musk updated the 13D document submitted to the U.S. Securities and Exchange Commission (SEC), which showed that Musk offered to acquire Tesla at a price of $54.20 per share in cash. Special issued common stock.
The price is 54% higher than the closing price on Jan. 28, the day before Musk bought his shares, and compared with the close on April 1, the day before Musk publicly announced his Twitter stake. The price was 38% higher.
Musk said it was the highest and last offer he could make. My offer is my best and last offer; if the offer is not accepted, the position as a shareholder will need to be reconsidered.
Notably, the filing mentions that if the proposed transaction is completed, Twitter’s common stock would be eligible for delisting from the New York Stock Exchange.
However, Musk also admitted that he himself is not sure whether the acquisition can be successfully completed, but if Twitter rejects his proposal, he has a plan B. He claimed,Don’t care about making money on Twitter, the goal is to hold as much stock as possible. “I have enough assets, if possible, I can do it.”
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