Elon Musk Attempts Hostile Takeover Of Twitter With $43 Billion Bid
Elon Musk has offered to buy Twitter for roughly $43 billion, a move that experts have classified as a hostile takeover of the social media company. Things have been extremely tumultuous at Twitter ever since Musk’s 9.2 percent share in the company was disclosed. Twitter’s stock shot up by 27 percent and has continued to soar since. But the way Musk declared his Twitter stake has become another hot topic of conversation. Musk initially filed a Schedule 13G with the Securities and Exchange Commission (SEC), classifying him as a passive investor, but he soon submitted a revised SEC declaration under Schedule 13D that declared he was an active investor.
The drama was far from over, however, with the late declaration of his stake in the company inviting a class-action lawsuit. After musing over the platform’s verification system and asking if Twitter was "dying", Musk decided not to take a seat on the company’s board. So far, a lot of digital ink has been spilled over Musk’s plans for Twitter, the changes he can catalyze, and whether he will take Twitter to new heights of success or drive it into the ground. Well, it looks like Musk no longer wants to just be the Tweeter-In-Chief. He now aims for a Commander-In-Chief role with a full-blown takeover.
Related: Elon Musk’s Next Target Is The Twitter Verified Check
Musk sent an acquisition offer via a letter to Brey Taylor, chairman of Twitter’s board, the contents of which have been revealed in an SEC filing. Musk offered to buy the entirety of Twitter at a price of $54.20 per stock, which he claims is 54 percent higher than the share price before he began buying a stake in the company and 38 percent higher than the closing price on the day of his SEC disclosure. Musk further
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