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Elon responds ‘really’ with a tweet saying ‘the game is rigged’ if Tesla CEO can’t buy Twitter


Tesla’s CEO agreed to a tweet saying ‘the game is rigged’ if he can’t buy Twitter in an ongoing fight for the company.

Elon Musk, 50, agreed with podcast platform entrepreneur David Sacks on Saturday that it would ‘really’ be rigged if he couldn’t buy Twitter.

Sacks tweeted on Thursday: ‘If the game is fair, Elon will buy Twitter. If the game was rigged, there would be some reason why he couldn’t. We are about to find out how deep the corruption is. ‘

Musk’s platform acquisition offer values ​​Twitter at $54.20 per share — well above the closing price before his bid, but below the high of $77.06 hit last February. The Twitter board on Thursday said it would block Musk’s offer.

Musk is said to be talking to potential partners about joining him in an effort to gain control of Twitter if Plan A fails. The New York Post reported that sources close to the deal told them Musk was considering a partnership with private equity firm Silver Lake Partners, which is planning an investment partnership with him in 2018. when he was considering investing in Tesla.

It’s another push from the billionaire for the company to hand over the keys in their ongoing push to buy the social platform. Earlier this week, Musk offered $43 million to the company after it was announced that he was the company’s largest shareholder, with a 9.2% stake. Soon after, Vanguard Group overtook Musk with 10.3%.

Musk and Vanguard Group hold a significantly higher share of stock than Twitter’s board, including Twitter CEO Parag Agrawal, who owns just 0.063 percent, according to a tweet Musk replied to on the page. .

The highest share someone owns on the board belongs to co-founder Jack Dorsey, with a reported 2.2%. Dorey recently announced that he is leaving the company.

Having to agree to 'really' would be cheated if he was denied the opportunity to buy Twitter

Having to agree to 'really' would be cheated if he was denied the opportunity to buy Twitter

Having to agree to ‘really’ would be cheated if he was denied the opportunity to buy Twitter

Billionaire Tesla continues his Twitter battle for the company to hand over the keys in their continuously stirring bid to buy the social platform

Billionaire Tesla continues his Twitter battle for the company to hand over the keys in their continuously stirring bid to buy the social platform

Billionaire Tesla continues his Twitter battle for the company to hand over the keys in their continuously stirring bid to buy the social platform

Musk agreed with Sacks (left) on Saturday.  The billionaire has been quite active on Twitter about his ongoing bid for the company

Musk agreed with Sacks (left) on Saturday.  The billionaire has been quite active on Twitter about his ongoing bid for the company

Musk agreed with Sacks (left) on Saturday. The billionaire has been quite active on Twitter about his ongoing bid for the company

Chris Baake, who compiled a chart showing board shares which he also tweeted, writes: ‘I’m not sure he’s prepared to go for a couple of PhDs, a couple of MBAs and a Male stripped of Twitter once a year (for password resets) and collectively owned 77 shares of the company. ‘

The founder of Space-X responded: ‘Well, with Jack gone, the Twitter board has almost no stock! Objectively, their economic interests simply do not align with shareholders. ‘

Another Twitter user pointed out that the board owns only 0.12% of the social media platform and said that they were ‘threatened to dilute their stake in the company.’

Musk tried to defend the board, writing: ‘In fairness to the Twitter board, this is likely more of a concern about other potential bidders than just me.’

He also pointed out in other tweets he interacted with that some members of Twitter’s board don’t even use the platform.

The billionaire interacted with another tweet about the small amount of the board's shares - 0.12% overall - and suggested that it was about 'other potential bidders' than him and that they were 'beneficial'. economic benefit' is with shareholders.

The billionaire interacted with another tweet about the small amount of the board's shares - 0.12% overall - and suggested that it was about 'other potential bidders' than him and that they were 'beneficial'. economic benefit' is with shareholders.

The billionaire interacted with another tweet about the small amount of the board’s shares – 0.12% overall – and suggested that it was about ‘other potential bidders’ than him and that they were ‘beneficial’. economic benefit’ is with shareholders.

Earlier this week, the world’s richest man replied to a tweet of his own that he was over 4 years old himself, showing he shares his passion for the social media platform.

“I love Twitter,” Musk announced in a tweet in December 2017. ‘How much is it?’, he replied a few minutes later.

The tweet, almost certainly forgotten by all but Musk, was followed up by the billionaire on Friday night with an upside-down smiley emoji.

Musk responded to a four-year-old tweet where he asked how much Twitter would cost with an upside down smiley face

Musk responded to a four-year-old tweet where he asked how much Twitter would cost with an upside down smiley face

Musk responded to a four-year-old tweet where he asked how much Twitter would cost with an upside down smiley face

On Thursday, the CEO, Parag Agrawal, told employees they were still considering Musk’s offer.

But on Friday, Twitter’s board announced a ‘poison plan’ to prevent Musk from increasing his stake in the company further.

The board indicated it would not go quietly, saying that any buyback of more than 15% of the company’s shares without its consent would trigger a plan to flood the market with shares. bonds and thus making redemption much more difficult.

Even with a moderate and inflexible proposal, which can help the panel argue a refusal, it is a difficult time that could end with lawsuits from all involved.

Twitter shares have fallen since Musk offered to buy the company for $43 million

Twitter shares have fallen since Musk offered to buy the company for $43 million

Twitter shares have fallen since Musk offered to buy the company for $43 million

To succeed in pushing back against Musk’s offer, Twitter’s board needs to have a solid foundation on which to base the argument that the company is worth more, said finance professor Kevin Kaiser of the Wharton School.

Shareholders who feel that the board is rejecting a favorable settlement will be free to file a lawsuit against Twitter.

Musk has the option of staying out of the board and trying to buy stock directly from stockholders in the marketplace, but that could lead to tedious negotiations with some of the stock holders holding a lot of money. more money.

Wharton School of Finance professor Kevin Kaiser said: ‘Twitter’s board has limited ability under Delaware law to block a direct offer to shareholders, something Elon Musk has failed to do. , but he can if he wants to’.

‘If he does this, and if the shareholders choose to bid on their shares, then he can succeed without the board’s support or approval.’

In response, Musk is now said to be recruiting others to join his bid, the New York Post reported Friday night.

While a serial entrepreneur’s net worth is estimated at $265 billion by Forbes, his net worth is not sitting in a bank account waiting to be spent.

Musk said at a TED Conference that he has ‘enough money’ to complete the deal, but financial analysts describe the situation as more complicated.

Most of Musk’s wealth comes from his stake in electric car maker Tesla, which he runs.

Musk will need to turn a portion of his Tesla holdings into cash, either by selling stock or taking out a loan with shares as collateral.

‘The specifics of how Musk funds the deal will determine the ramifications of Twitter,’ Moody’s said in a note to investors.

Moody’s estimates it will take Musk $39 billion to buy all of the outstanding shares of Twitter and there will be a ‘huge chance’ that he will have to pay or refinance the company’s existing billions of dollars in debt. headquarters in San Francisco.

That was before Twitter rolled out the poison that increased Musk’s costs.

Musk tweeted a poll hinting he might be thinking of taking his bid directly to shareholders.

A poll shows that 73% of respondents want Musk to own Twitter

A poll shows that 73% of respondents want Musk to own Twitter

A poll shows that 73% of respondents want Musk to own Twitter

He asked whether taking the company private to its asking price should depend on shareholders, not the board.

As the poll neared its end on Friday, more than 2.7 million votes were cast, with nearly 84% of them in favor of the idea.

Selling large amounts of Tesla stock to buy Twitter would come with a large tax bill based on capital gains, and could cause the electric-car company’s stock to drop in value as the market is flooded with goods for sale.

Musk can keep his stock and get a loan, paying interest. Or he could partner with a partner with deep pockets, but that could come down to a well-intentioned executive having to have someone answer to his decisions at Twitter.

Musk said that, if Twitter’s board declines his offer, it will make its shareholders ‘major’ disgruntled.



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