Musk staying off Twitter board opens door for a hostile takeover
An SEC filing on Amended Statement of Beneficial Ownership filed on Monday said Musk has no “present plans or intentions” to buy more shares but “reserves the right to change his plans at any time” after evaluating various factors, including the stock price and the “relative attractiveness of alternative business and investment opportunities.”
By Arghyadeep Dutta
Published - Apr 11, 2022, 09:29 PM ET
Last Updated - Feb 23, 2024, 02:27 AM EST
• SEC filing says Musk can express his views on social media
• Musk will discuss ‘potential business combinations and strategic alternatives’ with board members
Billionaire Elon Musk may acquire additional shares in Twitter Inc. (NYSE: TWTR) as he backs out from accepting a position on the social media company’s board.
An SEC filing on Amended Statement of Beneficial Ownership filed on Monday said Musk has no “present plans or intentions” to buy more shares but “reserves the right to change his plans at any time” after evaluating various factors, including the stock price and the “relative attractiveness of alternative business and investment opportunities.”
