Ilan Musk plans to take over the entire Twitter stock for $ 43 billion. If the deal goes through, Mr. Musk wants to take Twitter off the stock market to continue to operate as a wholly private company. Following this news, Twitter shares have increased by 18%.
Ilan Musk has announced that he will pay all this huge amount in cash. "I do not have the patience to play and bargain," Ilan Musk wrote in a Twitter offer. Such an amount is great for buying Twitter, and the company's shareholders will be satisfied with this amount. Given that I do not trust the current management to make the necessary changes, I will have to reconsider the shares I have if this request is rejected. This is not a threat. "Simply put, investing in this company without the necessary changes is not a wise thing to do."
Some time ago, Ilan Mask announced the purchase of 9.2% of Twitter shares. Mr. Musk then turned down an offer to join the company because, if he accepted, he would face restrictions on buying more shares in the company. In any case, we have to see if this offer will be approved by Twitter executives or not. In this regard, we should mention the complaint of a group of Twitter shareholders against Ilan Musk, because he officially announced this news 11 days after buying Twitter shares, and such an act is illegal.
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