Elon Musk says he is considering a hostile takeover to buy the social network Twitter

Tesla and SpaceX boss Elon Musk in Berlin on December 1, 2020. AP - Hannibal Hanschke

Text by: RFI Follow

1 min

The American multi-billionaire, boss of Tesla and Space X " 

plans

 " to initiate a " 

hostile takeover

 " to buy the American social network.

Elon Musk wants to buy Twitter by force.

Advertisement

Read more

Elon Musk wants to take over Twitter by force.

In a document intended for the policeman of the American stock market published this Thursday, the billionaire threatens to buy Twitter directly through the shareholders.

Without consulting the board of directors. 

To do this, Elon Musk claims to have “ 

secured

 ” more than 46 billion dollars.

If the boss of Tesla deploys so much energy to circumvent this famous board of directors, it is because the board is afraid of losing control of the decisions taken.

Elon Musk has a reputation for only listening to himself. 

Since he wants to buy Twitter, the board members are doing everything to prevent him.

Until using what is called the “poison pill” clause.

This technique allows shareholders to buy shares at a discount if ever Elon Musk acquires more than 15% of the shares.

This should increase the number of shares and therefore slow down the billionaire's takeover on Twitter.

Time, perhaps, to find another buyer.

► To read also: Twitter wants to counter the buyout of its shares by billionaire Elon Musk 

Newsletter

Receive all the international news directly in your mailbox

I subscribe

Follow all the international news by downloading the RFI application

google-play-badge_EN

  • United States

  • Economy

  • Twitter

  • Media

Keywords: