Circle Squared Alternative Investments Founder Jeff Sica argues that there are ‘two scenarios’ that can unfold as it pertains to Twitter and Tesla CEO Elon Musk.
Tesla CEO Elon Musk offered to buy Twitter in a deal worth more than $43 billion and take the social media company private.
Musk’s best and final offer was to pay $54.20 per share for 100% of Twitter, and said that if his offer was not accepted he’d have to reconsider his position as a shareholder, according to an SEC filing.
MUSK CALLS OUT TAYLOR SWIFT, JUSTIN BIEBER FOR RARELY TWEETING: ‘IS TWITTER DYING?’
Musk recently disclosed a 9.2% stake in Twitter, but he rejected an offer to join its board of directors and criticized the social media platform in tweets.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | TWITTER INC. | 45.85 | +1.37 | +3.07% |
| TSLA | TESLA INC. | 1,022.37 | +35.42 | +3.59% |
He wrote in the filing that he’d want to “transform” the social media platform as a private company.
Elon Musk is seen in a photo illustration. (Photo by JIM WATSON/AFP via Getty Images / Getty Images)
ELON MUSK FACES SHAREHOLDER LAWSUIT OVER DELAY IN DISCLOSING TWITTER STAKE
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk wrote. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form.”
(Thomas Trutschel/Photothek via Getty Images / Getty Images)
Musk said the takeover attempt is “not a threat, it’s simply not a good investment without the changes that need to be made.”
CLICK HERE TO READ MORE ON FOX BUSINESS
This is a breaking news story; check back for updates.
