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Elon Musk Considers Going Directly to Twitter Shareholders

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Elon Musk has secured $46.5 billion in funding to buy Twitter. The Tesla boss has already announced that he wants to acquire the messaging service.

 

With the Twitter board still not responding, the richest man in the world is now considering addressing the other shareholders directly in his takeover attempt. Of course, the latter would amount to a hostile takeover.

This is stated in documents that Musk has filed with the SEC. Musk said last week that he wanted to take Twitter off the stock exchange for more than $ 43 billion. But doubts arose almost immediately as to whether this would be a feasible option for the well-known businessman, also because the bid, according to critics, was too low. It later became clear that Musk had already started polling other investors to participate in a takeover bid.

The board of Twitter has not yet commented on the plans of Musk, who already owned more than 9 percent of Twitter before his takeover bid. The company only stated that it would carefully consider the offer.

To save time, a kind of protective construction was also set up, also known as the poison pill, which can prevent the social media company from being incorporated unsolicited. In addition, other shareholders will have the opportunity to buy more shares cheaply if Musk buys up shares on the stock market en masse.

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