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Billionaire entrepreneur Elon Musk on Sunday threw some uncertainty into his plans for a takeover of social media platform Twitter by posting a message that stated he was “transferring on”.
Musk is famed for his enigmatic messages on Twitter, which he usually makes use of to assault folks, submit insults or just make jokes. The precise which means of the newest cryptic message was unclear, because it simply said: “Shifting on …”.
However the submit was made after a dramatic week the place Musk, the richest man on the earth, secured $46.5bn in financing to fund a doable hostile bid for Twitter, together with $21bn of his personal cash.
The funding commitments had been outlined in a filing final week with the Securities and Change Fee. Musk already owns 9.2% of the social media platform and introduced a $54.20-per-share bid final week.
Musk’s provide is seen as a hostile bid as a result of it bypasses the corporate’s board. Twitter has additionally launched a so-called poison pill defense, aimed toward blocking Musk from constructing a stake greater than 15%.
Musk has referred to as himself a “free speech absolutist” and has made clear he believes Twitter is just not giving sufficient freedom to its tens of millions of customers. In a letter to the Twitter board he stated that the platform “must be reworked as a personal firm”. He has flagged adjustments he would possibly carry to the corporate, together with introducing an edit button for tweets.
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