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Twitter board and Ilan Musk are in talks to transfer ownership

BingMag.com <b>Twitter</b> <b>board</b> and <b>Ilan</b> <b>Musk</b> are in <b>talks</b> to <b>transfer</b> ownership

The Wall Street Journal reported hours ago, citing an informed source, that Twitter and Ilan Musk are in advanced talks to transfer ownership of the company, and possibly This will be done in a few days. About 10 days ago, Ilan Musk announced that he intends to take over the entire Twitter company by paying $ 43 billion. Although the talks are in the final stages, nothing has been decided yet.

Initially, Twitter officials said that Ilan Musk's proposal was not serious because he did not currently have the financial resources to do so. But Mr. Musk announced a few days ago that he had raised $ 46.5 billion to buy Twitter, and as a result, Twitter's board has changed its position. Ilan Musk has said that his final price per share on Twitter is $ 54.20 and will not go up. In recent days, Mr. Musk has met with a number of the company's major shareholders, who appear to have significantly increased the pressure on Twitter's board of directors. Mr Musk told a number of shareholders that the current management of Twitter could not bring the company's stock price up to par with his offer, given its problems. It is unknown at this time what he will do after leaving the post. ">

Since Mr. Musk made the offer to buy Twitter, the company's stock has been trading below his bid price, which usually raises shareholders' skepticism about the company's sale. However, a day after the news of sufficient financial resources to buy the company was announced, the price of Twitter shares increased by 4% to $ 48.93. Ilan Musk has announced that if negotiations fail, he may sell a 9% stake in Twitter. This will significantly reduce the company's stock price, which shareholders certainly do not want.

Ilan Musk has announced on Twitter that he has received about $ 25 billion in loans from almost all of the world's major investment banks. And pays about $ 21 billion in person, which is supposed to be done by selling a portion of the shares of companies like Tesla. It should be noted that it has been about 8 years since Twitter went public, but over the years, although rival companies have seen astonishing growth, Twitter has not been able to provide much growth to shareholders.

Overall, Twitter's board cannot. Ilan Mask's offer to drop without offering a better alternative. So while some rumors are circulating that the board is trying to find better customers, it is still unclear whether anyone is willing to offer a higher price to buy Twitter than Ilan Mask.

  • Hero Liberal or profiteer; What dream did Ilan Mask have for Twitter?

Source: WSJ

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