What happens to my Twitter stock?

Tesla boss has agreed to buy platform for $44bn and take it private

Graeme Massie
Los Angeles
Tuesday 26 April 2022 22:54
Comments

Elon Musk to buy Twitter

Elon Musk has been given the green light to take over Twitter after the company’s board accepted his cash bid that would value it at around $44bn.

Twitter still remains a publicly-traded company on the New York Stock Exchange and will remain so until the platform is “delisted.”

Up until that time, which could take weeks or months, retail (non-institutional) shareholders can still buy and sell the stock.

The board accepted Mr Musk’s offer of $54.20 in cash per share, and have recommended it to all shareholders, who will now get to vote on the deal.

The next step is that all shareholders will receive a “tender offer”, which will tell them that Mr Musk is buying the shares from them at the set price.

Shareholders can either accept the tender offer and sell their holdings to Mr Musk at $54.20, or reject it.

If a majority of shareholders accept it, then it goes through.

Shareholders who do not want the deal have to hope that a majority vote against it, or seethe company in Delaware’s Chancery Court to try and block it as unfair to shareholders.

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