Twitter Stock Climbs As Elon Musk Makes Offer| Investor's Business Daily
Category: News & Politics
Via: vic-eldred • 4 years ago • 28 commentsBy: BRIAN DEAGON (Investors Business Daily)
S E E D E D C O N T E N T
Elon Musk has offered to buy Twitter (TWTR) for $54.20 a share in cash, valuing the company at about $43 billion and saying he wants to take the company private. Twitter stock climbed.
Musk revealed his plan in a securities filing late Wednesday, which Twitter confirmed Thursday. The announcement comes a little more than a week after Musk revealed his 9.2% stake in the company.
"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk said in the SEC filing.
He went on to say: "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."
Twitter stock moved up 2.5% to 47 during morning action on the stock market today. The stock gain is well below the offer price.
Musk said the offer represents a 54% premium on Twitter stock compared with the day before he began investing in the social media giant. It also comes in 38% higher than pricing the day before his investment became public.
"Twitter has extraordinary potential. I will unlock it," said Musk. "My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder."
Twitter confirmed it received "an unsolicited, non-binding proposal from Elon Musk" in a press release Thursday.
"The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders," it said.
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Maybe free speech will live on!
Yes, idiots, pathological liars, Trumpsters, conspiracy nuts, nitwits, neo Nazis, Proud Boys, and republicans need a place to vent.
You vent here multiple times daily with minimal moderation.
Twitter users deserve the freedom to do the same
The moderation is there. Treat with him and many other leftists the same way they treat everybody and you'll see a ticket appear.
Yes, idiotic, basement dweller, elitist, liberal, coward, socialist, conspiracy nut, race baiters attempting to do away with free speech under the banner of "disinformation" will have to find a new safe space where they won't hear people that disagree with them. They won't be missed.
Lol Musk has owned Twitter .... they refuse and lose a big money score, accept and they can no longer censor free speech to their hearts content.
Brillant move Elon, brilliant!
I would have to reconsider getting a twitter account.
"Twitter stock rose" ... and then fell. Oh those jittery markets.
So what?
Think Musk cares about the stock price? He is taking the company private.
It doesn't change the fact that Musk's over the top offer forces the board to sell. "To do what is best for their share holders", who I am pretty sure are not all woke morons- and would rather have the significant return on their investment.
I am sure the woke management and employees at twitter are all looking forward to their return to sunlight once Musk takes over and cleans house. Hopefully they can all make it back to their parents' basements before it burns them to a crisp.
Anyone thinking any major corporate social media sites will go unmoderated is fooling themselves...
Moderated is one thing, Twitter isn’t only moderating. They are censoring ......... kinda like here when some moderators see things they personally don’t like or agree with.
Censor .....
Elon Musk says free speech is when "someone you don't like is allowed to say something you don't like."
Twitter and many of their acolytes have no problem with “free speech” .... just as long as they agree with what you are saying.
I practise it, why don't you?
You practice (not practise) what?
Musk found a way to get rightwingers to buy Teslas!
Genius Elon, absolute genius.