Elon Musk bid $43 billion to buy Twitter & take it private cuz...free speech. Or: Elon was bored. Pulled stunt to irritate SEC. Gets attention. Collects cash! Bolts before paying the check...on 4/20
Elon Musk's hostile bid for Twitter isn't going well, as I expected. Twitter's board quickly voted in poison pill measures to make a takeover harder and more costly. This was likely supported by Twitter's largest shareholder which, suddenly, is not Elon Musk anymore because Vanguard Group just boosted its stake to 10.3%.
Elon says he has a Plan B if his bid is rejected (as I expect it will be) but he's not saying what that is. Since he seems to have thrown this whole idea together on the fly, the Tesla way, I don't expect a significantly enriched offer from Elon, especially if other bidders step in.
He's had his fun and got a little richer. Time to make some memes to tweet.
It's 4/20, & funding is not secured for Elon's hostile bid for Twitter, as I expected. Most of the usual suspects seem understandably wary of funding him.
Let's review what I speculated in "Elon Buying Twitter? Probably Not" (https://bit.ly/3vx8EuF):
-Richest Man on Earth doesn't have the $
-Wouldn't use own $ anyway, so "he'll just do an LBO"
Elon Musk's hostile bid for Twitter isn't going well, as I expected. Twitter's board quickly voted in poison pill measures to make a takeover harder and more costly. This was likely supported by Twitter's largest shareholder which, suddenly, is not Elon Musk anymore because Vanguard Group just boosted its stake to 10.3%.
Elon says he has a Plan B if his bid is rejected (as I expect it will be) but he's not saying what that is. Since he seems to have thrown this whole idea together on the fly, the Tesla way, I don't expect a significantly enriched offer from Elon, especially if other bidders step in.
He's had his fun and got a little richer. Time to make some memes to tweet.
https://www.cnbc.com/2022/04/15/twitter-board-adopts-poison-pill-after-musks-43-billion-offer-to-buy-company.html#Echobox=1650040536
https://markets.businessinsider.com/news/stocks/elon-musk-is-no-longer-twitters-largest-shareholder-2022-4
It's 4/20, & funding is not secured for Elon's hostile bid for Twitter, as I expected. Most of the usual suspects seem understandably wary of funding him.
Let's review what I speculated in "Elon Buying Twitter? Probably Not" (https://bit.ly/3vx8EuF):
-Richest Man on Earth doesn't have the $
-Wouldn't use own $ anyway, so "he'll just do an LBO"
Today, Bloomberg reported "Elon Musk Goes Looking for Financing for His $43 Billion Twitter Bid" (https://www.bloomberg.com/news/articles/2022-04-20/musk-goes-looking-for-financing-for-43-billion-twitter-bid?sref=Q1XEaVVD)
Stay tuned.