The Clap
Elon Musk tweeted that Twitter’s BoD will get paid nothing in the event he acquires the social platform.
Why’s that?
Twitter’s board members own relatively minimal amounts of TWTR shares. This tells investors that Twitter’s board members’ interests, who collectively earn ~$2.9 million/year, may not be aligned with Twitter shareholders.
Musk is going after Twitter’s board members after they announced a “poison pill” defense plan against hostile takeovers.
More Elon
Three days ago the world’s richest man tweeted “🎶 Love Me Tender 🎶”, suggesting that a tender offer may be on the cards. This would allow him to buy shares directly from shareholders.
In related news
Private Equity (PE) firm Apollo Global Management could potentially swoop in to buy out Twitter. The PE firm reportedly said it would finance the buyout through preferred equity.
PE giant Thoma Bravo is also reportedly interested in acquiring Twitter.
