- In his latest SEC filing, Elon Musk has offered to buy 100 per cent of Twitter shares
- Ever Since, Musk became a shareholder in Twitter, speculations were rife that he could bring in revolutionary changes
- But TFI Global, our geopolitical cousin had predicted that Musk will be taking over Twitter in the future
As predicted by TFI Global, our geopolitical cousin, Elon Musk looks ready to complete a hostile takeover of Twitter, the most politically volatile media platform. He has offered to buy Parag Agarwal run company.
Elon Musk offers to buy Twitter
Musk has offered to spend $43 billion to revive Twitter’s fortunes. In the latest regulatory filing to the Security and Exchange Commission (SEC), Musk has said that he is willing to buy 100 per cent of Twitter for $54.20 per share. He is ready to pay this entire amount in cash. At the time of writing, a share of Twitter was valued at $45.08, way below Musk’s offer of $54.20.
Recently, Musk had announced his decision to invest in Twitter. He bought 9.2 per cent of Twitter shares. It was also speculated that he would be joining the Twitter Board. In his regulatory filing, Elon Musk posed faith in free speech and emphasised that Twitter could re-emerge as an enabler of free speech.
The takeover stems from Musk’s disappointment
But Musk was disappointed as he realised that he could not bring much change by just becoming a shareholder. Elon believes that he must become numero uno owner of Twitter in order to effect any change.
In a regulatory filing, Musk wrote, “However, since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company. As a result, I am offering to buy 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 announced. 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 has extraordinary potential. I will unlock it.”
Musk underlined that he does not have faith in the company’s management structure. He believes that Twitter cannot be changed until it leaves operating in the public market and the time has arrived to transform it into a private company. Elon is confident that it will ultimately benefit shareholders of the company and termed his offer as a ‘good investment’.
From being a shareholder to possible owner
Meanwhile, Twitter has confirmed the attempted takeover. Twitter said that it received an unsolicited and non-binding proposal from Musk. “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,” added Twitter.
Apparently, ever since Musk invested in the company, speculations were going around that Musk could bring a massive change in the way in which Twitter operates. However, very few dared to predict that Musk is planning to take over the company. But our sister publication TFI Global did this effortlessly.
TFI Global prediction comes true
Sanbeer Singh Ranhotra, one of the coveted writers of TFI Global had written an article titled “Elon musk could engineer a hostile takeover of Twitter” on 12th April. Referring to Musk’s decision not to join the board of Twitter, Ranhotra had stated that it would impair Musk’s ability to influence the decision-making process in Twitter’s operation.
“There is a cap to the amount of stake a board member of Twitter can hold. That threshold is 14.9%. So, getting on the board of directors would have greatly limited Elon Musk’s plan of swallowing Twitter whole. Now that he has refused to join the board of directors, the 14.9% cap does not apply to him. Already the largest shareholder of Twitter, Elon Musk could now effectuate a hostile takeover of the social media platform with ease and become the monarch of Twitter.”, wrote Sanbeer
Free speech is not just a right. It is a mechanism to solve the problems of society. It is necessary because the alternative is violence, which is not acceptable. If Musk is serious about his offer, he is trying to save the world from the mayhem of tribalism.