Just over a week ago, Elon Musk bought up 9.2% of Twitter at a respectable price. But that's not all - Musk wants more.
Musk wants to acquire Twitter; Image: BBC
9.2% of Twitter is not enough for the billionaire. He wants to buy the whole company for $43 billion. That means Musk is offering $54.20 per share, $5.40 more than the stock is worth on the stock market.
Musk wants to take the company private to build trust with users. However, opinions about this are very divided - many want Musk to buy out Twitter, others have big concerns, because Elon Musk is sometimes very easy to provoke and blocks some users.
The spectacle continues; Image: Sky News
After it became known that Elon Musk had bought up 9.2% of the social media platform, he was offered a seat on the board. In return, he could not own more than 14.9% of the shares. Musk rejected this offer five days later.
Twitter, however, does not say from its side that a single person can gain control of the company. This will allow investors to realize the full value of their investment.
These steps will only be used if Musk buys 15% or more shares.
However, a takeover of Twitter is not ruled out at that point. Only when it is in the best interest of the company, only then will it accept a takeover proposal.
If Musk does manage to buy out the company, the board members will be paid $0. That would be $3 million a year saved.
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