The front foot just said not to enter the Twitter board, and then to remember the anti-killing said to buy all -
Musk's latest operation is really confusing people.
But the technique is still as crazy as ever.
The acquisition of 100% of Twitter at a price of $54.2 per share will result in a transaction value of $43 billion (equivalent to more than 270 billion yuan).
(Worthy of you)
You know, the purchase price is 38% higher than the stock price of Musk's official investment on April 1; it is 54% higher than the stock price of the day before he began investing in Twitter.
Musk put it bluntly:
The offer I give is the best and at the same time the final offer.
But some rejoice and some are worried.
Twitter shares rose strongly after the acquisition plan came to light, peaking at $48.50 on Thursday, but closed down 1.5 percent at $45.18 per share. It has continued to fall to $45.08.
The news from the board of directors is that it is necessary to use the strategy of dealing with hostile takeovers to resist Musk's takeover offer.
What is even more confusing is that Lao Ma released the news that he wanted to buy Twitter in the morning, and he also went to TED to talk in the afternoon.
In addition to answering tesla autopilot questions, "incidentally" answered a wave of Questions about Twitter acquisitions.
"Twitter needs to transform into a private company"
It all started with the fact that last night the U.S. Securities and Exchange Commission (SEC) updated the 13D filing.
Subsequently, Musk put the document on Twitter to "tell the world."
(It seems that after preemptively sending messages before, lao Ma learned to be smart this time)
The filing reveals plans for the latest acquisition of Twitter and also includes a letter from Musk to the chairman of the board.
Musk said he invested in Twitter to turn it into a free, global platform. He believes that for the United States, it is a social responsibility.
But it was only after he invested in Twitter that he realized that in the current form of the company, the company would not develop better and meet the needs of society.
As a result, Twitter needs to transform into a private company.
Twitter also confirmed the news, saying it had received an offer to takeover and the board would review the proposal.
According to the New York Times, The Wall Street Journal and other sources, Twitter's board of directors does not seem willing to accept this acquisition plan.
According to people familiar with the matter, the board is discussing the use of "Poison Pill" to prevent Musk from significantly increasing his stake.
This is a legal mechanism, also known as the "equity dilution anti-takeover measure" or "shareholders' equity plan".
It is generally used by companies to defend against hostile takeovers.
Specifically, the target company's board of directors passes an equity dilution clause in advance, and once the hostile acquirer holds a certain percentage of the shares (usually 10% to 20% of the shares), the clause can take effect, so that the company's original shareholders can obtain a large number of shares in the company at a lower price, thereby driving up the acquirer's costs.
On Thursday, Twitter CEO Parag also declined to discuss the details of the acquisition at a full-staff meeting.
According to people familiar with the matter, Parag said that protecting users is one of Twitter's corporate cultures, and "no one can change that."
Saudi Prince Alwaleed bin Talal, Twitter's major shareholder, also rejected Musk's offer, arguing that Twitter is worth much more than just the price it is today.
However, Musk then tweeted about Twitter's 2021 earnings report.
It is understood that throughout 2021, Twitter's revenue was $5.08 billion, an increase of 37% year-on-year. Net loss was $221 million.
In fact, Musk has also made a lot of moves after making a takeover offer.
At the TED conference in Vancouver, Musk said he wasn't sure if he could actually buy Twitter. He added that the acquisition was not about making money.
Asked if the funds were secured, Musk replied:
I have enough assets.
If Twitter's board doesn't accept his takeover proposal, Lao Ma said he still has Plan B, but declined to elaborate.
In addition, he stressed that he wants to retain as many shareholders as possible after the acquisition.
Tesla's stock price fell all the way
To say that Musk bought Twitter with a thousand dollars is not an "air-dropped bomb".
Just half a month ago, Musk suddenly snapped up more than 70 million shares of Twitter stock, and sprinkled 3 billion overnight to become the largest shareholder.
This action actually began in mid-March and was only announced in April.
Musk then declined an invitation to join the board.
On the other hand, on Twitter, Musk, who is originally a super big Internet celebrity, has recently frequently posted articles related to twitter rules.
For example, do you want to add editing functions? Algorithms should also be open source... These contents have caused waves of netizens to watch.
Obviously, as a heavy user, Musk has a lot of dissatisfaction and suggestions about the current Twitter, and has more than once proposed to let Twitter open source algorithms and reduce content regulatory interventions.
"If this acquisition is really successful, will Twitter undergo a major change with Musk's personal will?"
This is also the most concerned issue for most Twitter users.
Many people are worried about this, believing that Twitter should not become a private company.
Some argue that it is not reasonable to cede the user's information space to private control.
The fate of us (the users) should not depend on a person's whim.
Some have expressed concern, arguing that there should be more, not less, content on social platforms that needs to be restrained.
It was also mentioned that some people had tried to buy Twitter before, but it ended in failure.
After the news of the acquisition was released, Tesla shares fell by more than 3%.
Victoria Scholar, head of investment at Interactive Investor, said that considering the current stock market trading situation:
The market expects the transaction to be rejected more likely than it is to be accepted.
References:[1]https://www.wsj.com/livecoverage/elon-musk-twitter[2]https://twitter.com/elonmusk[3] https://www.sec.gov/Archives/edgar/data/1418091/000110465922045641/tm2212748d1_sc13da.htm