Elon Musk seems to be approaching his goal to buy Twitter, while some American media claimed on Monday that the group was on the brink of accepting the billionaire’s offer, which sparked action on Wall Street.
The social network’s action, listed on the New York Stock Exchange, rose 3.75% to $ 50.77 US.
According to some sources, specifically mentioned by New York Timesang wall street journal and CNBC, the group could announce as early as Monday its acquisition of Tesla boss, who offered in mid-April to take over the entire group at a price of $ 54.20 per share and take over the New York Stock Exchange platform.
If this offer is accepted, it will give Twitter $ 43 billion, up from approximately $ 38.5 billion today.
To the AFP’s question, Twitter did not react immediately.
Mr. indicated. Musk last week that he raised $ 46.5 billion to complete the acquisition using two bank loans from Morgan Stanley, as well as his personal fortune.
He also raised the possibility of directly launching a hostile takeover bid (OPA) by shareholders and bypassing the board of directors (CA).
Once financing is in place with the threat of a hostile takeover, the Board can no longer use a white knight or a second bidder.Dan Ives of Wedbush Securities told CNBC.
It turned its back on the wall and forced them to go to the negotiating table.added the analyst.
According to American media, the Twitter board met Sunday morning to review the billionaire’s proposal.
Two days earlier, the South African-born businessman had spoken to several shareholders, via several video calls, to defend his acquisition offer.
The governing body of the group, consisting of 11 members, originally presented themselves as opponents to it by adopting a so -called toxic pill to make retrieval more difficult.
The clause provides that if a shareholder holds more than 15% of Twitter’s capital, the board of directors has the right to sell the shares for all other holders of the securities. Mr. currently owns. Musk’s more than 9% of the social network’s average stock.
Shortly after entering the company’s capital, the strange boss was invited to join CA, but he declined this offer.
With more than 83 million subscribers, the richest man on the planet (his fortune is estimated at $ 269 billion by Forbes) uses his Twitter account almost daily to share news about his businesses. , joke or launch provocations.
He promised to transform the social network to do just that the platform for freedom of expression around the world without detailing the changes he intends to implement, except for certain features such as the addition of a button to change to correct a tweet after posting.
Some observers believe that Mr. may be re -authorized. Musk deleted accounts, including those of Donald Trump and some of his supporters.
The former US president was permanently suspended on Twitter in January 2021 for calling to challenge the results of the presidential election and inviting violence.
” Giving Twitter rein to Mr. Musk will definitely come up with conspiracy theories that the platform has tried to suppress. Any attempt to use the platform to share legitimate information will be obscured by a toxic quagmire of misinformation. “
Another area that Elon Musk may also want to invest in is to make Twitter more profitable and drive user growth.
He has already suggested changes to the paid membership plan for the microblogging site, Twitter Blue.
The San Francisco team must publish its quarterly results on the Thursday before the Wall Street opening.
Source: Radio-Canada