Elon Musk's $43 billion bid to take Twitter private will be 'an expensive bauble,' our contributor Peter Cohan writes. Here's why:
After building a 9.2% stake in Twitter earlier this year, he says his offer represents a “54% premium over the day he began investing and a 38% premium over the day before his investment was publicly announced,” according to the Journal.
In my opinion, Bezos has provided a tremendous public service by pouring the right resources into the Post.
Musk sees Twitter as impeding the societal imperative of free speech. “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. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” he wrote.
One analyst thinks that another possibility is to borrow the money. Neil Campling, head of TMT research at Mirabaud Equity Research, toldthat Musk — who hired Morgan Stanley to advise him — “will have to sell a decent piece of Tesla stock to fund it, or a massive loan against it.”
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