I guess everyone does have a price.
WOAAAHHH
CNBC: Twitter could be becoming more receptive to a takeover bid from Elon Musk after the billionaire disclosed he has secured $46.5 billion in financing, The Wall Street Journal reported Sunday.
The social media company had been expected to shoot down the offer and had adopted a so-called poison pill to fend off a potential hostile takeover.
But executives are now re-examining the bid and are more likely than before to try and negotiate, the paper said, citing people familiar with the matter. The situation is fast-moving, but the two sides are meeting on Sunday to discuss Musk’s $43 billion proposal, the Journal reported.
A Twitter spokesperson declined to comment on the report.
The social media giant is reportedly still working on estimating its own value. Executives could also insist on guarantees, such as Musk covering breakup protections if the deal fell through, the paper said.
Twitter is set to report its latest financial results on Thursday and had been expected to weigh in on the bid then. Executives could also discuss the deal earlier in the week, the sources said.
Twitter could indicate it is open to other bidders or negotiating with Musk on certain terms, according to the report. Musk has reportedly said he will not sway from his initial offer.
When shareholders stand to cash in on a stock 50% more than its current value, there will be a few big dicks that will force the issue from the inside. It looks like that’s what’s happening with the WSJ news that Twitter is now reconsidering Elon Musk’s 46.5 billion dollar offer after finding out he has secured funding.
It’s real money now, so the opportunity to cash out at a premium is real.
I have some questions:
So was the poison pill strategy a real effort to rebuff Musk’s bully offer to take Twitter private OR a tactic by shareholders to drive a better price/smoke out Musk?
Did shareholders have every intention of taking his offer/selling at a premium?
How bad was Elon Musk’s background check?
Bad enough for Elon to put an extra $3 billion into his original $45 billion offer?
If Twitter’s board plans on entertaining other offers while reconsidering Elon’s, who the fuck else has 46.5 Billion – or more – to unseat Musk’s original proposal?
The answer is no one, and it’s obvious Twitter’s board was always interested in getting paid. It’s why people invest in the stock market. For moments like this, when some rich asshole comes along with a boatload of cash and tells them to fuck off. This isn’t personal to shareholders like it is to @BobbyEatsHair69.
But it is for Musk who wants to use it as a weapon. If Musk takes it private, he’ll enable hate speech as free speech and use Twitter to serve his personal PR needs. I don’t doubt he’ll make the Twitter experience better. I also think he’ll make it way fucking worse.
He’s not spending 1/5th of his net worth on a charitable purchase. He’s closing ranks on one of the most dangerous information verticals on the planet, and he knows it.
All it took was the money. That’s all it ever takes, and Elon has it all.
DB
