Musk is a few steps from the finish—and then at the very start of something that will take much longer than it took to buy the company.
a poison pill, a defense against an unsolicited bid like Musk’s—but warmed up to it last weekend after Musk detailed how he could pay for it. Answer: A lot of debt , some equity , all of it wrapped in Musk’s Tesla shares. It adds up to a $44 billion price tag on Twitter, a 38% premium over where the stock traded when Musk first disclosed his shareholding.
Musk will next make a $54.20 tender offer to raise his shareholding in Twitter to at least 50% or higher. A tender offer is where he asks shareholders to sell him their shares. He owns 9.2%, some 73.5 million shares. To get over 50%, he needs another 319.5 million shares, which will cost $17.2 billion. Easy-peasy. He has $46 billion in financing lined up.spent the weekend on the phone with big shareholders, wooing them.
What we can’t account for or really predict is some act of Elon. In anything Musk-related, there is a small but non-zero chance of the once-in-a-lifetime unexpected thing happening right now, immediately at this point in our lifetimes. The man truly redefines convention and predictability. One minute, he’s on Twitter
Musk has variously said he’d like the platform to better embrace free speech principles, reduce ads, open up its algorithm, add an editing tool, increase user verification and tamp down on spam bots. He also at one point used a TED Talk interview to suggest he didn’t really care about the business part of Twitter at all.
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