How Many Twitter Shares Are There As Elon Musk Makes $43.4B Offer?: The founder of Tesla Motors, Elon Musk, has put up an all-cash bid to purchase the social media business Twitter, stock, and barrel. The 50-year-old placed an astonishing $43.4 billion on the table on Wednesday in order to purchase 100% of Twitter, representing a 38 percent premium over the stock’s closing price on April 1. In April, Musk withdrew his candidacy for a seat on Twitter’s board of directors after acquiring 9.2 percent of the company’s shares. This is the latest development after Musk’s rejection to serve on the board of directors. With his rejection, the door was opened to the prospect of a full takeover since he was no longer compelled to maintain his holding limited to a maximum of 14.9 percent. Despite announcing that he would not be joining the board of directors at Twitter in an SEC filing on April 9, Musk stated that he would maintain the ability to purchase all or a portion of the company’s stock, either on the open market or through privately negotiated deals. Despite this, it didn’t take long for the world’s wealthiest individual to come to a decision. “Twitter has enormous potential.” says the author. “I intend to unlock it,” he stated in his most recent statement with the Securities and Exchange Commission.
Recently, Elon Musk, the inventor of Tesla and SpaceX, became Twitter’s largest shareholder, but it appears that this is not sufficient compensation for the billionaire. Musk has made his “best and last” proposal to purchase a 100 percent stake in Twitter, indicating that he wants the company to be sold to a private equity firm.
Elon Musk Offers To Buy Twitter
Elon Musk revealed a bid to acquire Twitter for $43.4 billion on Thursday, April 14th. Musk has offered to pay $54.20 in cash for each share he does not own, according to an SEC filing dated April 13th.
I am proposing to purchase 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly publicized, Musk stated in the filing. In the event that my offer is not accepted, I will have to reconsider my position as a shareholder.
Musk Directs Hits Attachment To Bret Taylor In The Filing
In the filing with the SEC, Musk addressed Bret Taylor, the Chairman of the Board of Directors of Twitter, and his objectives for the social media site in general.
I invested in Twitter because I feel that it has the ability to serve as a forum for free expression throughout the world, and I believe that free expression is a societal requirement for a functioning democracy, he explained.
But after making my investment, I have come to recognize that the firm will neither prosper nor fulfill this societal necessity in its current form. Twitter must be restructured to operate like a private corporation.
What Percentage Of Twitter Shares Is There?
According to Fintel, Twitter has 1733 shareholders that have registered with the Securities and Exchange Commission (SEC) and filed reports (SEC). According to the website, these stockholders own a total of 736,701,437 shares.
In addition to Musk, the Vanguard Group Inc., Morgan Stanley, BlackRock Fund Advisors, State Street Corp, Vanguard Stock Index Fund Investor Shares, and Aristotle Capital Management are among the company’s largest owners. Specifically, according to CNN, The Vanguard Group owns 67,172,425 shares and has an 8.39 percent position, while Morgan Stanley has an 8.08 percent stake and owns 64,722,431 shares in total.
Musk purchased a 9.2 percent interest in Twitter, putting him in the position of being the company’s largest stakeholder.
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