Musk suddenly announced: suspend the acquisition Twitter!The company's stock price fell sharply, and Tesla skyrocketed

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Musk suddenly announced: suspend the acquisition Twitter!The company's stock price fell sharply, and Tesla skyrocketed

2022-05-15 00:08:33 10 ℃

Musk's acquisition of Twitter's drama suddenly ushered in a turning point. On May 13, Musk said that the acquisition of Twitter's transaction will be suspended in order to verify the proportion of fake accounts and spam accounts among Twitter users.

Subsequently, Musk said on Twitter account that he was still committed to acquiring Twitter.

Twitter's stock price fell sharply before the market, and the decline exceeded 28%. As of press time, Twitter's stock price fell by 9.67%, with a total market value of US $ 311.17 billion. Tesla's stock price rebounded strongly, as of 5.71%of the time, with a total market value of 795.377 billion US dollars.

Musk: The suspension of acquisition is because

Wait for more details information

Musk made the above statement in a news report published by Reuters on May 2nd. According to the news report, Twitter estimated in a document published on May 2 that of about 230 million daily active users in the first quarter, fake accounts and accounts that sent spam accounts accounted for no more than 5%.

Picture source: Twitter screenshot

Musk said that the suspension of acquisition is to wait for more details information to verify whether Twitter's calculation of fake accounts/garbage accounts accounted for less than 5%.

Just a few hours before Musk's push, Twitter was still working hard to reduce costs to complete the transaction. After Twitter announced that he would stop recruiting new employees, an executive responsible for consumer products and a product responsible for income growth products was also fired.

On April 25, after Musk and Twitter reached an acquisition agreement with a $ 54.2 and total price of $ 44.4 billion per share, Musk once said that one of his primary tasks in the future is to clear the "spam information on Twitter spam information on Twitter on Twitter in the future. The robot account "(SPAM BOTS), a real -name authentication of users and promoting the open source of Twitter's algorithm.

Although Musk has taken out a set of financing plans including bank loans and equity financing portfolios, and has continued to make progress in equity financing, the market's doubts about whether this transaction can be finalized has become more and more important recently.

Twitter's closing price on May 13 was $ 40.72, and the difference between the purchase price per share proposed by Musk reached $ 13.48, which was the largest difference since the transaction announced. Compared The latter stock price difference has been doubled. The expansion of the difference reflects the decline in investors' confidence in transactions.

On May 9th, Hindenburg Research, known for its radical short, said that due to the current plunge in technology stocks and weak financial reports in the first quarter of Twitter, Musk is likely to redefine a lower transaction price.

On the other hand, since Musk's plan to acquire Twitter on April 14th, Tesla's stock price has continued to undergo pressure, because Musk's free cash flow is not much, investors are worried that he will sell Tesla stocks Let's raise funds. Since this year, Tesla's stock price has fallen by about 39.3%. Bloomberg Billionaires Index shows that, as the world's richest man, Musk, his personal assets have evaporated 54.1 billion US dollars (about RMB 364 billion) this year, and are the most losses this year.

Musk was investigated by SEC

In addition, Musk was recently stared at by the US regulatory agency.

According to Surging News, on May 11, local time, the Wall Street Journal quoted people familiar with the matter and said that the US Securities and Exchange Commission (SEC) was investigating Musk last month that he held a large number of shares he held on social media Twitter (Twitter) Essence This delay allows him to buy more stocks without other shareholders.

On April 4, local time, Musk's documents submitted to the US Securities and Exchange Commission (SEC) showed that he held 9.1%of Twitter ordinary shares, which made him the largest shareholder of Twitter.

However, this disclosure is not compliant. SEC clearly stipulates that more than 5%of the company's general shares of the company will need to disclose the shares they hold within 10 days. Reuters explained that 5%of the shareholding ratio is often regarded as an early sign of investors seeking to control the company.

Regulatory documents show that Musk has met the requirements of more than 5%as early as March 14. In other words, after 21 days, Musk submitted the document to disclose, far exceeding the prescribed 10 -day time limit.

According to the SEC regulatory documents, after March 24 (the date of disclosure), Musk purchased about $ 513 million in stock at a price of $ 38.2 to $ 40.31 per share. The closing price of Twitter on April 4 was $ 49.97.

Daniel Taylor, a professor of accounting at the University of Pennsylvania, estimates that Musk may save more than $ 143 million because of this delayed disclosure, because if the market knows that its shares have increased, it is likely to increase the stock price.

Article Source: Daily Economic News; Integrated self: Every network, surging news, public information, etc.