Elon Musk will take Twitter off the stock market to put it back

Elon Musk plans to bring Twitter back to the stock market three years after its acquisition, with the richest man in the world meeting these days with large investment companies, executives of private equity firms and private investors, in order to convince them to participate in the acquisition of Twitter. Musk’s moves are intended to freeze as little of his assets as possible in the takeover deal.

To potential investors, Msuk says he will take Twitter out of the stock market with the aim of consolidating the company and restructuring it to bring it back to Wall Street in three years as an attractive investment company.

Musk told potential investors that his plans included an initial public offering to bring Twitter shares back to the stock market.

According to Musk, who did not disclose details of Twitter’s reorganization plan, his share will immediately rise to the top of the stock market, with the result that investors will make significant profits.

The usual practice of private equity firms when acquiring a business and deciding to restructure it is to withdraw it from the Stock Exchange for at least five years before putting it back on.

Musk believes that the promise of how he will complete the reorganization in three years is a good temptation for investors. It is noteworthy that since Twitter went public in 2013, it has shown annual profit only in 2018 and 2019, while in the last year the profit targets set by the company have not been achieved.

It is recalled that the acquisition of Twitter by Musk is expected to be completed this year, if approved by shareholders and relevant regulators.


Source: Autoblog.gr by www.autoblog.gr.

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