The Twitter board of directors had initially attempted to block the boss offer of the boss of Tesla and SpaceX, before finally initiating discussions.
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Elon Musk got hold of Twitter. After hours of discussions, the social network announced Monday April 25 that it has accepted the billionaire’s offer.
Elon Musk had made a buy -back proposal on April 14, saying that he was ready to pay 54.20 dollars per Twitter share (49.70 euros). This represented a “premium”, that is to say a bonus, 54 % compared to the title’s opening price on January 28, when Mr. Musk began to invest in Twitter. In total, Mr. Musk put a little more than 43 billion euros on the table, and ensures that he was able to build the corresponding financing plan.
The next day, Twitter had announced to set up a clause, nicknamed “poisoned pill”, supposed to prevent Elon Musk from easily redeem his actions. Several shareholders, including the fund led by the Saudi prince Al-Walid Ben Talal Al Saoud, one of the main shareholders of Twitter, had judged Mr. Musk’s offer too weak.
uncertainties
For several days, the possibility of a takeover had seemed to be moving away – Elon Musk, customary of changes suffered from strategy and provocations, had also given up, in mid -April, to sit on the board of directors of the company, of which he had become the main shareholder. In parallel, he had multiplied criticism against the company … on Twitter, where he is one of the most followed personalities, with more than 80 million subscribers.
But According to information from the New York Times , a long session of negotiations this April 24, which ended late at night, finally made it possible to find an agreement. According to information from the American daily newspaper, the board of directors was convinced of the solidity of the financial editing proposed by Mr. Musk.
a very political buyout
The acquisition, however, raises many questions, both economic and political. Elon Musk did not hide his intentions: getting Twitter from the Stock Exchange, to be able to make major changes that he considers essential to his survival. Starting with a relaxation of “censorship” – Understand “the rules of moderation” – of the social network.
Libertarian, historically close to American liberals, Mr. Musk has operated, in recent years, a remarkable rapprochement with Donald Trump and the Republican Party. In the United States, the most fierce supporters of the ex-president hopes that he will raise the blocking of the Twitter account of Donald Trump, suspended after he was used to encourage the rioters who stormed Capitole January 6, 2021.