Tag Archives: Elon

(Bloomberg) — Billionaire entrepreneur Elon Musk agreed to buy Twitter Inc. for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech. Most Read from Bloomberg Investors will receive $54.20 for each Twitter share they own, the company said in a statement Monday. The price is 38% more than the stock’s close on April 1, the… Source link

If you have the paper, flaunt it like Tesla (TSLA) CEO Elon Musk. That could be what other billionaires are about to do as they seek to drive headline-grabbing change at well-known public companies as Musk did with Twitter. “It’s the beginning of a wave,” Lawrence Elbaum, co-head of Vinson & Elkins’ Shareholder Activism practice, said on Yahoo Finance Live (video above). “It’s not the first time this has happened. There’s lots of billionaires who have bid for companies in the past. There’s… Source link

Yichuan Cao/NurPhoto via Getty Images Twitter officials are expected to meet Sunday to re-examine Musk’s offer to buy the company, WSJ reported. The company last week filed a shareholder rights plan or “poison pill” to prevent a hostile takeover by Musk. The Tesla CEO confirmed $46.5 billion in financing from banks and other entities in a regulatory filing earlier this week. Twitter is reportedly reconsidering Elon Musk’s bid to purchase the social platform, The Wall Street Journal… Source link

Twitter may be warming up to the idea of selling itself to . According to , the company is re-examining Musk’s takeover bid after the billionaire he had the financial backing to get the deal done. When Musk first announced he was ready to pay to buy the social media giant, noting at the time it was his “best and final offer,” Twitter was widely expected to reject the proposal. The company even went so far as to adopt a so-called “” strategy to ward off a hostile takeover… Source link

When Tesla (TSLA) reports earnings on Wednesday, all eyes won’t be on whether Elon Musk comments on his bid for Twitter on the earnings call (or if he is even on the call) but rather how big of a hit the company will experience due to a Shanghai factory production shutdown. “With Berlin and Austin key factories now online and producing Model Y’s in a quickly ramping pace, the main question for tomorrow is just how bad the China production issues are and what that means for deliveries in 2Q… Source link

Private equity could be prepared to offer much more to help snag Twitter away from the outstretched hands of billionaire Elon Musk. A source familiar with the matter tells Yahoo Finance that Apollo Global Management (the parent company of Yahoo Finance) is weighing options to provide financing to potential suitors for a deal to take Twitter private. The private equity powerhouse isn’t planning to buy Twitter outright, the source says. “When you talk about private equity, we think $60 to $65 in… Source link

Twitter Inc. TWTR, +7.48% is expected to turn down Tesla Inc. TSLA, +1.96% Chief Executive Elon Musk’s offer for the social-networking company, and private-equity powerhouse Apollo Global Management Inc. APO, -1.27% is considering whether to join in a bid, according to a Monday afternoon report. The Wall Street Journal reported after U.S. markets closed that leaders of Apollo, which owns the remnants of… Source link

Twitter’s board (TWTR) is doing a terrible job handling the Elon Musk situation, said former SEC chairman Harvey Pitt. “I would give Twitter’s board an F,” Pitt said on Yahoo Finance Live. “I believe under the circumstances, they needed to check out whether this was a real bid. If it were a real bid, then they needed to do what was in the best interest of their shareholders. This is a price that hadn’t been seen in quite some time. The number is at least a legitimate frame of reference and… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, April 18, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Excuse me while I take a brief trip down memory lane before I drop the hammer on the topic du jour — Elon Musk’s battle for Twitter. Prior to my time at Yahoo Finance when I was leading… Source link

Elon Musk said in a video interview that he doesn’t own a home and is “staying at friends’ places.” The world’s richest man also doesn’t own yachts or take vacations, but has a plane to save time. Musk was responding to a comment about how many people criticize billionaires for their wealth. The world’s richest man said that he doesn’t own a home and crashes on friends’ couches. “I don’t even own a place right now, I’m literally staying at friends’ places,” Elon Musk said in a video interview… Source link