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April 14, 2022
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ELON MUSK WANTS TO BUY OUT TWITTER FOR $43 BILLION

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April 14, 2022
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Source: lookus / Shutterstock.com



Elon Musk escalated his Twitter takeover bid today when he offered to buy the
company in a deal worth $43 billion. The move to take the company private is
expected to receive sizable pushback from multiple sources. But whether or not
the bid is successful, Musk has shown other major tech companies how they can
influence or potentially acquire Twitter. 

Musk moves in — In his proposal, Musk stated that Twitter has the “potential to
be the platform of free speech around the globe” and that the bid is his “best
and final offer.” He also threatened to sell his shares if it is rejected. This
week, Musk pushed Twitter to transform from an ad-supported business to one that
relies more on subscriptions. He cited that “the power of corporations to
dictate policy is enhanced if Twitter depends on ad money.” Twitter also has
room for growth among younger demographics which have mostly been active on
platforms like TikTok that prioritize photo and video. 

Source: Bloomberg.com

Take it or leave it — Sources say Twitter will push back, as the bid to buy the
company at $54.20 a share is well below its $70 high last year. Twitter has
already considered a “poison pill” defense where it would flood the market with
new shares to dilute Musk’s stake. Additionally, in order to afford the deal,
Musk may be forced to sell stakes in SpaceX and Tesla or use them as collateral.
That would trigger some hefty tax bills and reduce his control, both of which he
has been resistant to in the past. If the deal falls through, Musk may simply
capitalize on the media attention and launch his own platform instead.

An open field — Musk’s move shows that companies can gain influence with and
potentially acquire Twitter for relatively “cheap.” Mark Cuban believes that
even if the deal falls through, every major tech company will now see if they
can buy Twitter, granted antitrust regulations allow it. Microsoft, Salesforce,
and Oracle have already tried before. With the company’s current growth rate
below estimates, it might just be a matter of time before Twitter accepts an
offer it can’t refuse.

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Tagged: story, 2022-04-14

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