Tag Archives: Musk

Elon Musk has lined up a new CEO for Twitter and told banks that agreed to help fund his $44 billion acquisition offer about his plans to monetize tweets, according to a new report from Reuters. A source told Reuters that Musk has decided on who he plans to appoint as the new chief executive of Twitter, but the source didn’t name the person. Twitter’s current CEO Parag Agrawal, who took the role after Jack Dorsey stepped down in November, is expected to remain as CEO until the deal is… Source link

Tesla (TSLA) shares fell on Tuesday amid investor concerns that CEO Elon Musk would need to sell shares in order to fund a portion of his $44 billion buyout of Twitter (TWTR). Meanwhile, Twitter’s shares have recovered from a late-March trough ahead of the buyout deal. Columbia Law School Professor John Coffee believes that it will be challenging for Musk to juggle managing Tesla and Twitter simultaneously — on top of SpaceX, The Boring Company, and Neuralink. “Moreover, Tesla is going… Source link

Vijaya Gadde.Twitter Elon Musk bought Twitter on Monday and could shift its approach to content moderation. One key architect of those content policies is the attorney Vijaya Gadde. On Monday, Gadde cried during a meeting that discussed the acquisition, three people told Politico. Twitter’s top attorney and a key voice in decisions such as barring President Donald Trump from the platform became emotional and cried in a meeting with employees discussing Elon Musk’s acquisition of the platform on… Source link

(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

(Bloomberg) — Twitter Inc. is in the final stretch of negotiations about a $43 billion sale to Elon Musk that could rank as one of the biggest-ever leveraged buyouts of a listed company, people with knowledge of the matter said, placing an influential blogging platform under control of the world’s richest person. Most Read from Bloomberg An agreement would cap a monthslong saga that saw Musk amass a stake of about 9%, launch a fusillade of criticism at Twitter’s management, turn down a… Source link

(Bloomberg) — Tesla Inc. chief executive officer Elon Musk told a judge he shouldn’t be prohibited from talking about his fight with the U.S. Securities and Exchange Commission, as shareholders suing him have requested. Most Read from Bloomberg It’s the latest volley in a lawsuit by shareholders alleging that Musk’s 2018 tweet about taking the company private manipulated its stock price and defrauded them. Last week, the investors won a key ruling in the run-up to a San Francisco fraud… 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