Recently, Elon Musk, who has become the new phenomenon of the social media world, took a shocking step and announced that he wanted to buy the whole of Twitter. Musk, who wants to buy Twitter for about 43 billion dollars, announced what he will do if the purchase fails.
Elon Musk said he will review his Twitter shares
Tesla and SpaceX CEO, who added Twitter to his investment portfolio by purchasing 9.2 percent of the company in the past period, thinks big for the platform. According to Elon Musk, Twitter has to change from top to bottom, and if it doesn’t “it won’t be a good investment”.
In the last statement he shared, Musk announced that he wanted to buy all of Twitter. He said he made a billion-dollar offer. The proposal, sent to the US regulator SEC, will be reviewed by Twitter’s board of directors.
But Elon Musk also explained what he can do if this purchase does not happen. Musk, who is currently the platform’s largest shareholder, may sell his stake in the company and “walk away completely” if the offer is rejected.
Twitter Chairman Bret Taylor and board members said in a statement:
“If the deal doesn’t work, I’ll have to reconsider my position as a shareholder, as I don’t trust management and don’t believe I can make the necessary change in the public market. It’s not a threat, it’s not a good investment without changes that need to be made.”
It’s hard to understand the Tesla and SpaceX CEO’s request for Twitter management now. Musk said that he would first join the board of directors, and then he gave up on this idea. But in his latest statement, he draws attention to the fact that he wants to make big changes in Twitter.
Although Elon Musk did not announce his decision not to join Twitter’s board of directors, some analysts stated that he was considering the acquisition offer at that time. If Musk were on the board of directors, he would be able to buy a maximum of 14.9 percent of the shares.
In a note sent to Twitter management, the billionaire said that his $54.20 per share offer was the best and the last, and that he would not “play the game back and forth”.
What do you think about this dilemma between Elon Musk and Twitter? You can write your thoughts in the comments or on the SDN Forum.
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