Elon Musk proposes to buy Twitter for over 5 trillion yen, will the stock be private for freedom of speech?

Entrepreneur Elon Musk, the founder of Tesla and SpaceX, proposed the acquisition of Twitter for $ 43 billion on Thursday, April 14, 2022. Musk has already acquired a 9.2% stake in Twitter and is aiming to acquire the remaining 91.8% for $ 43 billion. The reason why Mr. Musk is aiming to acquire Twitter is said to be 'to make Twitter a place for free speech.'

Musk makes $ 43 billion offer for Twitter to build'arena for free speech' | Reuters

Elon Musk offers to “buy 100% of Twitter” for $ 43 billion | Ars Technica

Elon Musk offers to buy Twitter in takeover attempt --The Verge

'It's very important that there is a comprehensive forum for free speech,' Musk said in a TED Talks event in Vancouver, Canada. You can check the full movie of the TED Talks lecture in which Mr. Musk appeared in the following movie.

LIVE: Elon Musk Gives TED Talk in Vancouver --YouTube

After that, Mr. Musk submitted a document to the Securities and Exchange Commission (SEC) in the United States that he intends to acquire Twitter, indicating that he intends to acquire 100% of the company's shares for $ 54.20 per share. rice field. The stock price of $ 54.20 per share is 38% higher than the closing price on April 1, 2022, before Mr. Musk acquired the shares of Twitter.

According to Forbes, an economic newspaper, Mr. Musk is one of the world's leading wealthy people with $ 273.6 billion in assets. After Mr. Musk acquired a 9.2% stake in Twitter, Twitter invited him to the board, but he declined the invitation. It is believed that this is because Mr. Musk disliked the rule that 'members of the board must hold the company's shareholding ratio to less than 15%', and when he refused to invite him to the board, some Anna The list said, 'Mr. Musk is planning to buy Twitter.'

In addition, Mr. Musk conducted a questionnaire on Twitter after the acquisition proposal, 'Should it be decided by the shareholders, not the board of directors, to make the shares private after acquiring Twitter for $ 54.20 per share?' At the time of writing the article, more than 1.5 million votes were collected, with 'Yes' being about 84% and 'No' being about 16%.

'Twitter is evaluating the takeover offer from Mr. Musk under the guidance of Goldman Sachs and Wilson Sonsini Goodrich & Rosati LLP,' Reuters said in a statement. Meanwhile, The Information reports that 'Twitter is not interested in Mr. Musk's takeover offer.' Twitter has n't publicly announced how it will respond to Mr. Musk's takeover offer, but it is reported that he will decide on a response policy at a meeting held at 17:00 local time on the 14th.

Twitter's board was also reported to be trying to counter Musk's hostile takeover with a poison pill that gives existing shareholders 'options that only the acquirer can't exercise.' In fact, Twitter's Articles of Incorporation include provisions for poison pills.

In addition, overseas media The Verge points out that Mr. Musk has failed in trying to privatize Tesla's shares in the past, and it is unclear whether his acquisition of Twitter and privatization of shares will proceed successfully. increase.

Tesla CEO Mask, who 'withdrew' from private holding, reveals some emails to employees-GIGAZINE

By Jenny Cestnik

in Web Service, Posted by logu_ii