Not really. It is an offer to buy 100% of twitter at $54.20/share OR abandon his position altogether. This is a cash offer, but it would be financed (translation: Musk is not selling shares of TSLA to do the deal). TWTR is currently $51.90. The TWTR board and management would obviously get kicked to the curb, and so will fight tooth and toenail against Musk. The more likely outcome here is Musk selling off.

This post was edited on 4/14/22 at 6:29 am

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Posted by supatigah

CEO of the Keith Hernandez Fan Club

Member since Mar 2004

87595 posts

Posted on 4/14/22 at 6:45 am to NC_Tigah

quote:
The more likely outcome here is Musk selling off.

yep, after dominating the news cycles and showing the world how corrupt Twitter’s leadership group really is.

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Posted by LSUFAITHFUL

Member since Oct 2007

1089 posts

Posted on 4/14/22 at 8:09 am to NC_Tigah

quote:
Not really. It is an offer to buy 100% of twitter at $54.20/share OR abandon his position altogether. This is a cash offer, but it would be financed (translation: Musk is not selling shares of TSLA to do the deal). TWTR is currently $51.90. The TWTR board and management would obviously get kicked to the curb, and so will fight tooth and toenail against Musk. The more likely outcome here is Musk selling off.

In addition, the board would be sued for breach of fiduciary duties and self dealing. By rejecting an offer that is higher than the current share price, the board would be screwing their shareholders out of profit to save their own skin. The board and the company will be tied up in litigation. Musk (or any shareholder) could file a Derivative Action against Twitter. Literally anyone owning just one share could do it. Musk has really put the board between a rock and a hard place with this offer.

This post was edited on 4/14/22 at 8:10 am

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