KOMPAS.com – CEO TeslaElon Musk already bought stock Twitter. Not satisfied, now the richest man in the world intends to buy all shares of the microblogging platform.
Elon Musk filed it offer through the US Securities and Exchange Commission (SEC).
Musk gave an offer price per share of 54.20 US dollars (approximately Rp. 750,000). According to CNBC, Musk’s bid for a 100 percent stake in Twitter is worth an estimated $43 billion.
Twitter’s valuation itself is lower than Musk’s offer, which is around 37 billion US dollars (Rp 517 trillion).
His interest in buying all of Twitter’s shares was also expressed through his personal Twitter account with the handle @elonmusk. In his tweet, Musk didn’t make it clear what he wanted, instead, he directly pinned a link pointing to the SEC.
“I made an offer…,” Musk tweeted with a link to the SEC file.
In the offer submitted on April 14, Musk said that Twitter needed to be turned into a private company.
“I invested in Twitter because I believe in its potential to become a platform for free speech worldwide, and I believe free speech is essential to democracy,” the Tesla CEO said in a letter to Twitter chairman Bret Taylor. 15/42022).
Read also: Elon Musk Interested in Buying Twitter for IDR 618 Trillion
Twitter investor response
Offer this has been confirmed by Twitter. However, the company has not yet decided whether to accept or reject it.
“Twitter’s board of directors will review the proposal to determine the best decision for the company and all Twitter investors,” the company said in a statement.
Reportedly, the two sides had a meeting this morning (Friday, 15/4) US time. That said, shareholders are not interested in Musk’s offer. They are even said to be using a strategy that would prevent Musk from taking over Twitter.
One Twitter investor who has spoken so far is Saudi Arabia’s Prince Alwadeed bin Talal Al Saud. In a tweet uploaded via his official Twitter account, @Alwadeed_Talal, he openly rejected Musk’s offer.
“I don’t believe @elonmusk’s offer (USD 54.20) is close to intrinsic value (real share value) given its growth prospects,” Talal wrote.
“As one of Twitter’s largest and longest-standing shareholders, @Kingdom_KHC and I turned down this offer,” he continued, uploading a screenshot of Talal’s tweet announcing his company was buying Twitter shares.
It can be seen from the time stamp of the upload, that the tweet was posted on October 7, 2015 or about eight years ago. KHC or Kingdom Holding Company is a multinational investment company owned by Alwadeed.
Read also: Saudi Arabian Prince Alwaleed Turns Down Elon Musk’s Offer to Acquire Twitter for IDR 616 Trillion
Elon Musk is a fairly active Twitter user with 80.5 million followers. Not long ago Musk bought Twitter stock and became the biggest “outside” investor.
As Twitter’s largest shareholder, Musk is expected to be able to encourage Twitter to focus on the issue of free speech.
Musk’s proposal to the SEC also cited “freedom of speech” as a focus. In his bid, Musk also hinted that he wanted to change the way Twitter operates.
For example by providing wider access to verified accounts or blue ticks for public figures, journalists and people involved in news.
Stocks Twitter up, Tesla down
Since the news that Musk intends to buy Twitter surfaced, the social media share price has crept up to more than 13 percent.
However, in trading on the same day, Twitter’s share price closed down 0.77 percent. This news also affected the share price of the electric car founded by Musk, Tesla.
In stock trading Thursday, Tesla shares reportedly fell 1.55 percent. The decline in Tesla’s shares even continued to 3.66 percent when the stock trading closed.
Read also: Tesla boss Elon Musk wants to annex Twitter for IDR 616 trillion
(Source: Kompas.com Writer Lely Maulida | Editor Wahyunanda Kusuma Pertiwi)
Get updates news of choice and breaking news every day from Kompas.com. Let’s join the Telegram group “Kompas.com News Update”, how to click the link https://t.me/kompascomupdate, then join. You must first install the Telegram application on your cellphone.–
:strip_icc()/i.s3.glbimg.com/v1/AUTH_08fbf48bc0524877943fe86e43087e7a/internal_photos/bs/2022/G/F/jVG7YUTrGU9T63QbosVg/motog9plus.png?resize=150%2C150&ssl=1)