Tesla CEO Musk hints he will “continue” the offer to take over Twitter in a tweet days after submitting documents to the SEC outlining how he will grab the social media giant
- Tesla CEO Elon Musk has hinted that he is “continuing” his current takeover offer on Twitter over the weekend after submitting documents to the SEC
- “Here we go,” Musk tweeted on Sunday. The post already has over 136,000 likes, 11,000 retweets and over 2,400 citation tweets as of Sunday morning
- Musk made the vague statement days after submitting documents to the SEC on Thursday
- He had committed $ 21 billion in equity, $ 13 billion from Morgan Stanley in debt instruments and another $ 12.5 billion from the bank and other margin loans.
- Earlier this week, Twitter filed its defense for a “poison pill” with the SEC in a last-ditch attempt to prevent it from further increasing its stake in the company.
By Matt McNulty for Dailymail.Com
Posted: 15:57, 24 April 2022 | Updated: 16:05, 24 April 2022
Tesla CEO Elon Musk has hinted that he is “continuing” his ongoing Twitter takeover offer early Sunday morning, days after filing documents with the Securities and Exchange Commission outlining how he will grab the social media giant.
Musk tweeted to more than 83 million followers.
The post had over 136,000 likes, 11,000 retweets and more than 2,400 citations of tweets from Sunday morning.
Musk made the vague statement days after submitting documents to the SEC on Thursday.
He has previously committed $ 21 billion in equity, $ 13 billion from Morgan Stanley in debt instruments and another $ 12.5 billion from the bank and other margin loans.
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Tesla CEO Elon Musk may be chilled by his proposed takeover on Twitter after mysteriously tweeting that he was “moving forward” on Sunday
But “some” of his shares in Tesla are presented as collateral, which analysts fear could have a huge impact on the company.
The 50-year-old billionaire also revealed on Thursday that he is considering auctioning Twitter after the company ignored his takeover bid.
He said he was investigating the receipt of shares directly from shareholders, but admitted that he “has not decided whether to do so at the moment”.
The move signals that Musk is stepping up his commitment to take over Twitter after weeks of negotiations between the developer and the company.
Earlier this week, the social media giant filed its defense for a “poison pill” with the SEC in a last-ditch effort to prevent it from further increasing its stake in the company.
Musk, the world’s richest man, currently owns a 9.2 percent stake in the technology giant and is trying to take it private with an unwanted offer of $ 54.20 a share.
In a Twitter poll of nearly 20,000 users, 73 percent wanted Musk to buy Twitter, while another 27 percent were against.
Meanwhile, the stock price on Twitter closed 0.77% to $ 47.08 on Thursday, as speculation continues to swarm over whether Musk’s daring offer will be successful.
Elon Musk’s attempt to hostilely take over Twitter’s history:
- January 31: Musk starts buying shares on Twitter “almost every day”
- April 4: The billionaire reveals that he has a nine percent stake in the technology giant
- April 5: Twitter offers him a seat on the board of directors – as long as he does not own more than 14.9 percent. Initially accepted the proposal
- April 8: Vanguard Group reveals greater share of 10.3 percent on Twitter, meaning Musk is no longer the largest shareholder
- April 9: Musk refuses a seat on Twitter on the day he is due to join
- April 10: CEO Agrawal announces that Musk has refused to join the board in a statement
- April 12: Investor Marc Bain Rasella files a lawsuit against Musk in New York for “failure to report his stock purchases on Twitter to the SEC” in time
- April 14: Tesla founder offers to buy Twitter for $ 43 billion
- April 14: Twitter shares collapse after a hostile takeover offer
- April 15: Twitter board sets up “poison pill” strategy against Musk
- April 16: Musk tweets “Love Me Tender” as he irritates the possibility of a hostile takeover of Twitter again
- April 17: Musk agrees to a tweet saying “the game is set up” if he can’t buy Twitter
- April 18: Jack Dorsey accuses the Twitter board of “conspiracies and coups” that are “permanent dysfunction of the company”
- April 18: The social media giant submits its defense against the “poison pill” to the Securities and Exchange Commission
- April 21: Musk submits a document to the SEC revealing how he will finance the takeover bid
- April 24: I have to tweet “keep going” as a possible hint that it may end with the takeover offer
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