Elon Musk is exploring whether to commence a tender offer to acquire all outstanding shares of Twitter's common stock, citing the board's lack of response to his $54.20 per share offer to take the social media giant private.
. As part of joining the board, Musk would've been unable to own more than 14.9% of Twitter's stock while serving on the board or for 90 days after. Musk's board term would have expired at Twitter’s 2024 annual meeting.
CEO of Tesla Motors Elon Musk speaks at the Tesla Giga Texas manufacturing"Cyber Rodeo" grand opening party in Austin, Texas, on April 7, 2022. Musk proceeded to make the $43 billion takeover bid for Twitter, noting it was his "best and final" one. Following the offer, Twitter adopted a limited duration shareholder rights plan, commonly referred to as a
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