Elon Musk is no longer Twitter’s largest shareholder and says he is ‘not sure’ his takeover bid will be successful

  • Elon Musk, who has a 9.2% stake in Twitter, is no longer its largest shareholder.
  • Vanguard Group said its funds now own a 10.3% stake, according to a recent SEC filing.
  • Musk said on Thursday he is “not sure” whether his $43 billion takeover bid for Twitter will be successful.

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Elon Musk has lost his position as Twitter ‘s largest stockholder as he attempts to buy the company in a $ 43 billion deal. The Tesla and SpaceX boss said in early on April he had become Twitter ‘s largest stockholder, having built a 9.2 % stake in the micro-blogging platform. however, he has now lost the top spot, as asset coach Vanguard Group said in a filing lodged recently with the Securities and Exchange Commission that, as of April 8, its funds now own a 10.3 % bet on in the party that is worth $ 3.6 billion based on Friday ‘s close. The file shows Vanguard increased its bet on in Twitter over the class of the first quarter.

On Thursday, the global ‘s richest valet unveiled a $ 43 billion command for the entire company, in a take-it-or-leave-it propose. Musk is still the largest individual stockholder, and Twitter co-founder Jack Dorsey is the second largest, but he said on Thursday that he is “ not certain ” whether his coup d’etat offer will be successful, hours after making the offer. “ I am not certain that I will actually be able to acquire it, ” Musk said while speaking at the TED2022 conference in Vancouver on Thursday. Musk said that he had a “ design B ” one f his bid was abortive, but did not elaborate on what that would be .
Speaking to TED chief Chris Anderson, Musk explained that he made the offer because he believes it is crucial to have an “ inclusive stadium for absolve address. ” “ This is not a means to make money, ” Musk said. “ My hard intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of refinement. ” In a letter to Twitter ‘s chair on Wednesday, Musk said his $ 54.20-per-share offer was his “ best and concluding ” propose. He said if the offer is n’t accepted, he may dump his massive impale in the company and walk aside entirely .

chirrup confirmed Thursday that it had received “ an unasked, non-binding proposal from Elon Musk ” and said it would “ cautiously review the proposal to determine the course of natural process that it believes is in the best interest of the company and all Twitter stockholders. ” Musk tweeted on Thursday that it would be “ absolutely indefensible ” for Twitter to not put his offer to a stockholder vote .

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