Elon Musk set to buy Twitter

Elon Musk set to buy Twitter

Trending 5 months ago 40

When Tesla main Elon Musk announced a $43 cardinal takeover bid for Twitter astatine $54.20 per share, fewer radical thought it would happen. Now, the deal is connected the verge of happening.

At first, Twitter wanted thing to bash with the deal. In mid-April, Twitter's committee of directors expressed their absorption to Musk's connection by unanimously adopting a shareholder rights plan. Should Musk oregon anyone other get 15% oregon much of Twitter's outstanding communal stock, the committee would connection different shareholders much banal astatine a discounted price. That would dilute Musk's involvement successful the company. 

That was then. This is now. 

For $46.5 billion, Twitter's committee appears acceptable to marque a deal. Musk, a contender for the world's richest man, volition beryllium financing the acquisition retired of his ain pouch and with funds from Barclays, Bank of America, Societe Generale, Mizuho Bank, Morgan Stanley, and different banks. Some of the financing volition beryllium secured by his monolithic Tesla holdings, but neither SpaceX nor Tesla volition beryllium straight progressive successful the deal. 

Once Musk has Twitter, helium has projected a fig of changes to the fashionable societal network. These see taking the institution private, relaxing its contented restriction, and ridding the level of its troublesome fake and automated accounts.

See also