Elon Musk's fortune does not mean it will be easy for him to buy TwitterEven for the richest person on the planet, buying Twitter was always going to be a challenge –- a highly complex financial transaction now made even trickier by a defensive"poison pill" move from the platform's board.
Even with a moderate and inflexible proposal, which could help the board argue for rejection, it's a fraught moment that could end in lawsuits from just about everyone involved. "The Twitter board has limited ability under Delaware law to stop a tender offer made directly to the shareholders, which Elon Musk hasn't done, but which he could do if he chose to," Kaiser said.
Musk said at a TED Conference that he had"sufficient funds" to consummate the deal, but financial analysts describe the situation as more complicated.Musk would need to turn a chunk of his Tesla holding into cash, either by selling shares or taking out loans with stock as collateral. He asked whether taking the company private for his offered price should be up to shareholders and not the board.
Thank goodness !
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Elon Musk offers to buy Twitter for $41bnBillionaire Elon Musk has offered to buy Twitter for about $41bn (about R600.7bn) in cash, saying the social media company he has often criticised needs to go private to see effective changes. Aowa admin, this was yesterdays news. A bit late.
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