The repercussions of Elon Musk’s move to buy Twitter continue. Tesla and SpaceX’s Chief Executive Elon Musk rolled up his sleeves to buy the entire company after buying 9.2 percent shares from Twitter. Musk’s statement about the salary arrangement that he would apply to the board of directors if he bought Twitter drew attention.
In his post on his Twitter account, Musk stated that if he buys Twitter, the people who will take charge of the company’s board of directors will not be paid.
Elon Musk, in response to a social media user’s share of criticizing the Twitter board, emphasized that 3 million dollars will be saved per year on the salaries that will not be paid to Twitter’s board of directors.
Musk, who previously bought a 9.2 percent stake in Twitter, made an offer of $54.2 per share for the entire Twitter, in a notification he made to the US Securities and Exchange Commission (SEC) on April 14.
After Elon Musk made an offer to buy the whole of Twitter for about $43 billion, Twitter took a measure called the “poison pill” on April 15. The company’s board of directors unanimously approved the limited-term shareholder rights plan.
With this measure, existing shareholders other than potential buyers retained their right to buy more shares in the company at a lower price.
It is noted that the plan will come into play if Musk or another investor buys more than 15 percent of the company’s shares.
After this measure of the Twitter board of directors, Musk shared Elvis Presley’s famous song “Love Me Tender” on his Twitter account.
It is stated that this measure taken by the Twitter Board of Directors cannot stop Musk’s purchase attempt, but may make the purchase more expensive or force Musk to sit at the negotiation table.
There were news in the US press that the private equity firm Thoma Bravo could also create a bid to buy Twitter.
Musk, one of the richest people in the world with a wealth of more than $ 260 billion, has continued to come up with developments regarding the social media company since he bought Twitter shares.
Musk also shared his thoughts on many other products on Twitter, from removing ads to an edit button, and asked his followers if the company’s headquarters should be turned into a homeless shelter. (AA)