On July 12, Twitter directly took Tesla CEO Elon & Middot; Musk "reported" to the court.
The ultimate purpose of his prosecution is to acquire his company at a price of $ 44 billion.
According to the complaint statement, Twitter stated that "Musk performed a big show in front of the public, actively proposed and signed an acquisition agreement that conducive to the seller. , Discard enterprises, disrupt operations, destroy the interests of shareholders, and then go away. "
01 I don't want to sell, I am willing to sell,I do not want to buy
Recalling this acquisition incident, it can only be said that it is very "dramatic." We have to start from April.
On April 4, Musk claimed that he started to buy Twitter's stocks in January this January this year. As a resultThe shareholding ratio is as high as 9.2%, worth 2.9 billion US dollars。
As soon as the news came out, Twitter's stock price rose sharply, and Tesla's stock price plummeted.
After all, the market believes that the prospects of Twitter are worrying.
So at the time of Twitter, the world's richest man investing in me, and immediately invited Musk to join the board of directors. At that time, Twitter CEO Pragdot; Agraval also posted that Twitter realized that Musk would bring "huge value" to the board, and said that Musk was Twitter's "fanatic believers".
As a result, Musk said, "I don't join, I refuse."
Because they do not want to join the board of directors, but to buy Twitter and privatize Twitter.
It didn't take long for this. On April 14, Musk proposed to acquire Twitter at a price of about $ 54.20 per share, valuation of about $ 43.4 billion in cash. The price was calculated at the time, exceeding 40%of the market price.
Although Musk said to acquire Twitter, so anxious, so fast, do you really want to buy it? And is there any money to buy? With many questions, I have to guard against.
As a result, many major shareholders of Twitter said on that day that they did not support Musk's acquisition plan.
On April 15, Twitter also launched the "Poison Pill Project". Simply put, it is to defend malicious acquisitions. For example, when Fang Musk's shares reached 15%, Twitter would buy new shares at a discount in order to keep his control equity, and even send the shares directly to other shareholders, so as to dilute the horse Skk's equity proportion, so that Musk's control over Twitter can decline directly.
In this way, Twitter can also strive more time for themselves, communicate with Musk, or communicate with other investors.
However, the funny thing is that Twitter launched the "Poison Pill Project" in front of Twitter. After 10 days, it was announced that the board of directors had passed the acquisition.After a comprehensive assessment of the board of directors, I believe this is the best way out of Twitter shareholders。”
Of course, Twitter also left a hand. According to the agreement signed by the two parties at that time, if Musk did not complete the acquisition, he would pay $ 1 billion in liquidated damages.
It is said that this is the end of this thing, and it can be very happy. Unexpectedly, on Friday, Musk bluntly did not plan to buy Twitter.
The reason is that Twitter seriously violates multiple terms in the agreement. And on the issue of "false and misleading statements" on the number of "Twitter" in the number of false accounts, the two sides have been tapped. In addition, Musk also said that Twitter has recently frozen recruitment and fired several executives, and failed to operate its business normally.
But at present, Twitter did not buy this statement, and his backhand sued Musk.
02 The business is disturbed,The stock price fell again and again
After this wave of operation, Twitter's stock price began to rise crazy, and then the stock price was almost cut.
From the point of view, the price of Twitter per share on April 1 was $ 39.32. After that, Musk purchased a large number of Twitter stocks, its stock price soared all the way, and the price per share was $ 46.23 on April 8.
Since then,Twitter's stock price until May 13, all remained at $ 40 -50 range 。
On May 14, Musk threatened to put on hold on the acquisition, and after July 8th that he did not acquire, Twitter's stock price began to plummet. The following is a few key time nodes:
It fell to $ 37.39 on May 16;
From the day of the 16th to June 30, its stock price remained in the 37-40 out of the distance;
By July 11, it fell directly to $ 32.65, the largest single -day decline since April 2021. Compared with Musk's previous purchase quotation of $ 54.2 per share, it shrinks 40%;
On July 13, a slight recovery was raised, $ 36.75 per share.
In fact, Musk's move, there are many reasons for people from all walks of life:
Some people think that Musk put pressure on Twitter in various ways, re -negotiate the acquisition price, and complete the acquisition;
Some people think that acquisition is a virtual gun, and Musk's real goal is Twitter's stock price fluctuations. What if it is short in advance?
Some people think that the personnel of the Twitter team have a serious loss and the business is not caused.
But no matter what Musk thinks, it is certain that "Twitter" now wants to bite Musk. Because at this time Twitter not only on the mouth of the wind, but also in the huge fluctuations inside, it can be described as internal and external problems.
Everyone knows that the advertising income has always been its big head,In the first quarter of 2022, Twitter's revenue was US $ 1.2 billion, of which advertising revenue was US $ 1.11 billion, accounting for more than 90% 。
However, in recent months, due to the impact of the acquisition offer, some advertising sales and agents of Twitter have been leaving the company. According to Adweek, many advertising companies/institutional executives have said that many people they know have gone elsewhere.
At the same time, many employees said that they don't like Musk's remarks and bluntly leave the company.
A certain level,It directly leads to the "serious" loss of Twitter advertising sales talents 。
At the same time, because Musk's vision is to support the "freedom of speech", this also makes advertising agents/advertisers worry about the development of Twitter. It is believed that this will directly destroy the platform for many years to calm and harass and hatred for many years. Acts and politicians made of political colors.
Therefore, today's Twitter rides a tiger, can only lock "Musk" firmly, but will Musk really put Twitter into the pocket?