Musk won! At $44 billion, Twitter's board obediently accepted the takeover

Just now, Twitter accepted the acquisition of American billionaire Elon Musk. Contrary to the previous threat, he threw poison pills and refused. Turning faces and holding hands, just in two 10 days, the big guys will play.

I. Grounds for a privatization tender offer

On the 14th, Musk announced a privatization offer to Twitter's board of directors at a price of $54.2 per share, citing:

Free speech is the foundation of a democratic society, and Twitter has the potential to become the world's largest platform for free speech, which is why Musk invested in Twitter;

But unfortunately Twitter's value has not been maximized at present, and reforms must be made, and to reform must be privatized to be carried out, so Musk is now making a privatization offer to the board;

As for the privatization price, it is $54.2 per share, a premium of 54%, which is high enough;

And my style is that I don't like to bargain and pull.

The next day, Twitter's board said it would sacrifice the poison pill plan and rejected the offer.

II. Musk stepped back on Twitter's board

Musk had to say that this was not fun and quit the board. Agrawal said that this is the best, jack also reposted and said that a good board may not necessarily do a good job, but a bad board can do a bad job in minutes.

Because, on April 4, Twitter CEO Praga Agrawal talked with Musk several times, saying that Musk's joining the board of directors can bring great value to the company, so he signed an agreement to invite Musk to join the board. Musk has become the largest shareholder this year through three months of holding 9.1% of Twitter's shares, this time signing one is to invite Musk to join the board of legal confirmation, and musk promised in the agreement that the stake will not increase to 14.9% in 90 days after signing the contract. Musk thought about it, let's get in first, and happily agreed. Agrawal cheered on this, Jack, the largest shareholder on the board of directors, also expressed great happiness, and Taylor, chairman of the board, was happy to bless it and made a light attitude.

III. Musk's love-hate feud with Twitter

Before he got into the boardroom, Musk pondered for 10 days and told the chairman that I felt like I still had to take Twitter private, for the reasons that were said above, democracy, freedom of speech, and maximizing value. Musk has more than 80 million fans on Twitter, which can be said to be the largest brand and marketing IP under his own control. Musk has been on Twitter, violating the letter, offending the SEC, and has also been deleted by Twitter robots for speaking out. In short, after happily feeling the sourness and energy of social media platforms, I felt itchy teeth about not being able to speak freely. In addition to his personal "grievances," Musk is also upset, speaking for more conservatives whose posts have restricted their freedom of speech, claiming to open up opportunities for their freedom of speech. Speaking of conservatives, Trump is also a piece.

The media said that after Musk proposed a privatization tender offer, Twitter's board faced a dilemma between maximizing shareholder value and free speech values, but the board was the trust institution of the shareholders' meeting, and the travel shareholder value maximization, that is, accepting Musk's acquisition was the performance of the job. But Agrawal argues that the first amendment to the U.S. Constitution, which regulates freedom of expression, is directed to the government, not private companies, and is therefore not appropriate for Twitter. Agrawal believes that in the Internet age, everyone can easily express themselves through the Internet, freedom of speech is OK, the key is whose voice can be heard, and Twitter regulates this to create a healthy communication environment. That is to say, Twitter's board believes that healthy dialogue and communication is their goal, not freedom of speech as stated in Article 1 of the Constitutional Amendment.

Vi. Twitter super user Musk's uprising

After indicating the withdrawal from the board, communication is still ongoing, while negotiating, while bringing in the forces of shareholders and society to exert pressure. Musk launched a vote on Twitter to take the takeover, and 85 percent of the voters voted for it. Before launching the privatization tender offer, Musk also launched a vote on Twitter on free speech and democratic society, which was also supported by the majority, and after this approval, Musk finally made up his mind to launch a privatization offer. In the middle, Musk signals, _tonight, Love is tender, is understood as love talking softly, and surprise is tonight.

Under the combination of Musk's soft and hard, Musk forced the palace to succeed, just on the night of the 25th. As a Twitter user, in the name of reforming Twitter, from a user to a shareholder, to a board member, and then bought the company and became the boss, Musk revolted successfully.

Next, how will Twitter be changed, Musk is going to directly change humanity, march into space, and get more non-scientists out of the shackles of the earth, Musk acquired Twitter to march into the metaverse of the human meta-god, where he can go, wonderful wait and see.

International social platforms such as Douyin are under pressure.