Elon Musk may be buying Twitter

www.dailymail.co.uk

Elon Musk tries to buy Twitter for $41billion

Elon Musk has offered to buy Twitter in a $41.39 billion all-cash deal that would take the company private, telling the board chairman in an offer letter: 'Twitter has extraordinary potential. I will unlock it.'
www.dailymail.co.uk www.dailymail.co.uk

'As a result, I am offering to buy 100 percent of Twitter for $54.20 per share in cash, a 54 percent premium over the day before I began investing in Twitter and a 38 percent premium over the day before my investment was publicly announced.

'My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.

'Twitter has extraordinary potential. I will unlock it.'
Click to expand...

He's not messing around.
 
www.newsmax.com

Twitter Adopts Poison Pill to Block Musk

Twitter is considering a poison pill to block Elon Musk, a 9.2% shareholder, from significantly increasing his stake to purchase the social media platform, a source tells The Wall Street Journal. A poison pill is a defense tactic used by companies that are targets of...
www.newsmax.com www.newsmax.com
 
So the poison pill seems to be a massive increase of the issued stock issued from the company directly,, at 1/2 price of the street value, thus diluting the value of the takeover groups stake.



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The Rights Plan is similar to other plans adopted by publicly held companies in comparable circumstances. Under the Rights Plan, the rights will become exercisable if an entity, person or group acquires beneficial ownership of 15% or more of Twitter's outstanding common stock in a transaction not approved by the Board. In the event that the rights become exercisable due to the triggering ownership threshold being crossed, each right will entitle its holder (other than the person, entity or group triggering the Rights Plan, whose rights will become void and will not be exercisable) to purchase, at the then-current exercise price, additional shares of common stock having a then-current market value of twice the exercise price of the right.

The Rights Plan will expire on April 14, 2023.

Additional information regarding the Rights Plan will be contained in a Form 8-K to be filed by Twitter with the U.S. Securities and Exchange Commission.
 
The Sound Guy said:
File that he's selling and watch it drop like a rock, then file that he's changed his mind and watch it skyrocket again?

Only the day traders would love that.
Click to expand...
The Sound Guy said:
File that he's selling and watch it drop like a rock, then file that he's changed his mind and watch it skyrocket again?

Only the day traders would love that.
Click to expand...
Don't be surprised to see him buy more until he owns 15%. If the board releases a lot more stock at half the street value, it will drop the prices like a rock. Prices would drop more afterward if Musk announces he's selling his 15%. That alone would make initiate an ouster of the board by the shareholders.
 
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