Posted on 04/14/2022 11:13:04 AM PDT by janetjanet998
Billionaire Tesla CEO Elon Musk acknowledged Thursday he is “not sure” he’ll actually be able to buy Twitter, hours after he revealed a $43 billion offer...
....Asked by TED’s Chris Anderson if there was a “Plan B” if his current offer were rejected, Musk said, “there is.”
He retained Morgan Stanley, he’s getting enough advice to cover the contingencies. Either way he wins, he can dump his stock at a profit because if they allow it to drop they’ll get sued by their shareholders for breach of fiduciary responsibilities.
Didn’t 2 pr 3 civilians pay millions to get a Space X ride to the ISS???
With those prices for seats-—he can buy lots of things.
I wonder how the Twits who work there will feel about their stock options. There are typically change of control provisions whereby the vesting happens quicker (immediately). So the “loyal” employees could quit on the change of control? Get some pretty big payouts?
I am going to speculate that Elon has factored this into his strategy; all those noble Twits can spew and spout about their principles. In the end my guess is they will sell out (so to speak) and take the dollars.
It might be a lot cheaper for him to recruit the right people to build a twitter competitor and get it bigger than Twitter in a year or two.
Heck, buy out the employees from Twitter, at least the former employees who are no longer under non-compete-agreements.
Twitter is not worth $43 billion, and it’s probably not even worth 5 billion.
Whatever Elon Musk builds or gets his hands on, turns to gold.
You don't need to tell me. I survived as an employee of MCI through the debacle of the WorldCom buy out, securities fraud, bankruptcy, restructure, rebound, and purchase by Verizon. I retired from MCI dba Verizon Business after 31 years. There were lies, tears from my wife, and some angst along the way. I was protected by others as they were forced out the door. Others like me were able to move positions or locations and hang on. As bottom level program and project management with no direct reports we came through it OK.
If he sells and the price drops he can buy more cheaper, or would that be considered manipulation?
Glad you came through ok. :-)
Yep!
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