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(Morning News) Twitter's board of directors agreed overnight (Monday, April 25) unanimously approved the global richest man, Elon Musk's acquisition of Twitter's $ 44 billion.
Today, there are only two obstacles to the acquisition: shareholders' voting and regulatory approval.Twitter Saudi Arabic investors have stated that they will vote against acquisitions, but as far as the current situation is concerned, there are not many investors who join their lineup to prevent the transaction from.
The rest are the only regulators.Musk is still with the US Securities and Exchange Commission (SEC) in 2018. In 2018, how the tweet published on Twitter affects the market.Musk even issued a sharp statement against the regulatory agency.However, according to MarketWatch, Stephen Diamond, deputy professor of Law School of St. Clara, said that "SEC will not interfere with mergers."
Dimmond said: "Their only their duties are the accuracy and integrity of the disclosure information sent to shareholders by supervising the board of directors and Musk.The guarantee of substantive content. "
In addition, the employees inside Twitter are also polarized. CEO Parag Agrawal also said when all overnight employee conference announced:"Some of you are very worried; some are very excited."
The atmosphere and emotions of all the staff conferences are a little tense. Many employees are worried about Musk's rapid acquisition, worried that Musk will be right.The platform has made many major changes, but they did not get too much answer at the overnight call meeting.
According to the US CNN (CNN), a employee even asked whether the former President Trump would be allowed to return to the platform.However, Agravar said: "Once the transaction is completed, we will know the development direction of the platform." When Agrawal also asked the employees to ask Musk the question and answer the question and answer Musk.
As for who will be the CEO after the transaction is completed, it has not yet been determined.But Twitter Chairman Bret Taylor confirmed that the board of directors will no longer exist when the transaction is completed.Angelavar also said that Twitter would not lay off layoffs, at least so far.
In addition, the restricted stocks held in the hands of employees (Employees' Restricted Stock) will continue to be owned by the relevant employees until the end of the transaction, and then the same timetable conversion as other shareholders will be converted.For cash.
Angravar said in the conference summary: "There must be a lot of uncertainty now, but I will continue to talk to Musk. For a while, these uncertainties will be reduced."
Twitter stocks rose 5.66 % at the time of closing overnight, at $ 51.70.Musk's purchase price per share is $ 54.20.The stock remained active after the trading, and continued to rise by 0.41 % to $ 51.91.
Twitter presents a file that is handed over to the SEC today, indicating that the company will submit relevant transaction agency documents and tables later.
Musk also disclosed the details of his acquisition of Twitter last week, expressing his willingness to provide a total of $ 46.5 billion in debt and equity financing to acquire Twitter.Among these $ 46.5 billion financing, Musk is willing to bear the $ 21 billion of it.Morgan Stanley and other companies said they were willing to provide $ 12.5 billion in loans.The loan will be part of the ownership of Musk's Tesla as a loan deposit.
The remaining $ 13 billion will be debt financing from Morgan Stanley and other companies, including REVOLVER (Revolver), US $ 6.5 billion, and US $ 3 billion in guarantee transition loan.(Bridge Loan) and $ 3 billion in unparalleled transition loans.
