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Despite previous resistance, Twitter seems to be approaching a deal for a $ 43 billion sale to Elon Musk, which, according to Time, could be ranked as one of the largest acquisitions ever of a listed company, said people who have knowledge on the issue.
Negotiations are apparently moving towards finalizing a deal, while the social media company is working to achieve the most appropriate terms of a transaction. It is learned that Musk is lining up partners for the acquisition and continues to talk to potential co-investors.
Twitter has previously tried to thwart the billionaire’s attempt to take control of the company through a so-called “poison pill”, a financial instrument that companies have been using for decades against unwanted interested buyers. The ingredients of each “poison pill” are different, but they are all designed to give corporate boards an option to flood the market with so many new stocks that a purchase becomes too expensive to make. The strategy gained popularity in the 1980s, when public companies fell prey to big stock buyers like Carl Icahn, who are now more often described as “activist investors”.
Musk, better known as the chief executive of electric vehicle maker Tesla, currently owns about 9 percent of Twitter shares, but has expressed interest in buying more.
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