{"id":1447206,"date":"2022-04-20T08:00:21","date_gmt":"2022-04-20T12:00:21","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1447206"},"modified":"2022-04-20T08:00:28","modified_gmt":"2022-04-20T12:00:28","slug":"elon-musk-setting-up-move-for-twitter-within-10-days","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-setting-up-move-for-twitter-within-10-days\/","title":{"rendered":"Elon Musk Setting Up Move for Twitter Within 10 Days"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-setting-up-move-for-twitter-within-10-days%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1447206&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p> House Oversight and Reform Committee member Michael Cloud discusses censorship of conservatives on &#8216;The Evening Edit.&#8217;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Tesla CEO <a href=\"https:\/\/www.foxbusiness.com\/category\/elon-musk\" target=\"_blank\" rel=\"noopener\">Elon Musk<\/a> is willing to invest up to $15 billion of his own cash to take <a href=\"https:\/\/www.foxbusiness.com\/category\/twitter\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> private and will make a bid within 10 days, according to Tuesday reports.\u00a0<\/p>\n<p>The New York Post <a href=\"https:\/\/nypost.com\/2022\/04\/19\/elon-musk-scrambles-to-find-backers-for-twitter-takeover-sources\/\" target=\"_blank\" rel=\"noopener\">reported<\/a> Tuesday that Musk, with a 9.1% stake in the social media company, has tapped Morgan Stanley to help raise an additional $10 billion.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/04\/931\/523\/d6779302-Elon-Musk.jpg?ve=1&#038;tl=1\" alt=\"CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing \" Cyber Rodeo \/><\/div>\n<div class=\"caption\">\n<p><span>CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing &#8220;Cyber Rodeo&#8221; grand opening party in Austin, Texas, on April 7, 2022.\u00a0<\/span><span> (SUZANNE CORDEIRO\/AFP via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Musk\u2019s massive $43 billion bid to purchase the company \u2013 or $54.20 per share \u2013 may require borrowing against both the company and his stock in addition to raising money from private equity investors, The Post reported, citing two sources close to the situation.\u00a0<\/p>\n<p>The estimated $10 to $15 billion Musk is reportedly willing to invest is well above his roughly $3.4 billion stake in the company.\u00a0<\/p>\n<p>The sources told The Post that the co-investors will collectively have more equity in Twitter, but Musk will remain the single largest shareholder.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/elon-musk-social-media-twitter\" target=\"_blank\" rel=\"noopener\"><strong>ELON MUSK TWEETS HIS PHILOSOPHY ON SOCIAL MEDIA POLICY AMID BID TO BUY TWITTER<\/strong><\/a><\/p>\n<p>The co-investors will reportedly finance a hostile tender directly to Twitter shareholders, which happens when an outside investor\u2019s ambitions to take over another company do not have management\u2019s approval or blessing.\u00a0<\/p>\n<p>Musk will launch the tender officer within roughly 10 days, according to The Post. It remains to be seen how successful Musk will be in raising the necessary cash, as his propensity for controversy has turned off some investors.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/04\/931\/523\/Twitter.jpg?ve=1&#038;tl=1\" alt=\"image\" \/><\/div>\n<div class=\"caption\">\n<p><span>In this photo illustration the logo of Twitter can be seen on a smartphone.<\/span><span> (Photo Illustration by Thomas Trutschel\/Photothek via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Last week, Twitter adopted a measure known as a &#8220;poison pill,&#8221; which refers to a tactic that companies employ to block an investor from accumulating a majority stake in a company.\u00a0<\/p>\n<p>If any shareholder accumulates a 15% stake in the company in a purchase not approved by the board of directors, other shareholders will get the right to buy additional shares at a discount diluting the roughly 9.1% stake Musk recently purchased.\u00a0<\/p>\n<p>For Musk\u2019s bid to be successful, he would need to win full approval from a majority of Twitter shareholders.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/desantis-hold-twitter-board-accountable-musk-buyout-bid\" target=\"_blank\" rel=\"noopener\"><strong>DESANTIS LOOKS TO HOLD TWITTER BOARD \u2018ACCOUNTABLE\u2019 FOR RESPONSE TO MUSK&#8217;S BUYOUT BID<\/strong><\/a><\/p>\n<p>FOX Business has reached out to Musk for comment but did not hear back before publication. Twitter declined to comment.\u00a0<\/p>\n<p>Twitter is leaving open the possibility of negotiating with Musk or another suitor. In a regulator filing on Monday, Twitter\u2019s board says the shareholder rights agreement should not interfere with any merger or offer approved by the board.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/04\/931\/523\/Elon-Musk-Twitter-shareholders.jpg?ve=1&#038;tl=1\" alt=\"Elon Musk\" \/><\/div>\n<div class=\"caption\">\n<p><span>Elon Musk gestures as he speaks during a press conference at SpaceX&#8217;s Starbase facility near Boca Chica Village in South Texas on February 10, 2022.\u00a0<\/span><span> (Photo by JIM WATSON\/AFP via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>When he made his offer public, Musk provided no details on financing, but such a disclosure could improve his chances. He could raise money by borrowing billions using his stakes in Tesla and SpaceX as collateral, and he could bring in other investors.<\/p>\n<p>The poison pill would give stockholders as of April 25 the right to buy one one-thousandth of a share of preferred stock for each common share they own, at a price of $210. The rights are triggered if any person or group of investors buys 15% or more of the company&#8217;s shares without board approval.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noopener\"><strong>CLICK HERE TO GET THE FOX BUSINESS APP<\/strong><\/a><\/p>\n<p>The preferred stock would have the same voting rights as a common share, according to the filing, which does not specifically mention Musk.<\/p>\n<p><i>The Associated Press contributed to this report<\/i>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Oversight and Reform Committee member Michael Cloud discusses censorship of conservatives on &#8216;The Evening Edit.&#8217; Tesla CEO Elon Musk is willing to invest up to<\/p>\n","protected":false},"author":498,"featured_media":1888834,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1447206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.foxbusiness.com\/politics\/elon-musk-reportedly-setting-up-move-for-twitter-within-10-days","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1447206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1447206"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1447206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1888834"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1447206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1447206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1447206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}