Twitter stock in red: Musk rails against Twitter board – salary at zero dollars – Apollo is probably considering participation in Twitter offer

“The (Twitter) executive’s salary will be $0 if my bid is successful,” Musk tweeted Monday. “So that’s $3 million a year we’re saving here.” Musk responded with the tweet to a post by another user who had criticized the Twitter board.

Musk already owns around nine percent of Twitter and wants to take over the company for around $43 billion. The Twitter board is not enthusiastic about this and has reacted with a “poison pill”: On Friday, Twitter announced the launch of a frequently used procedure intended to make it difficult for large investors to increase their stake.

According to an insider, the investment company Thoma Bravo, which focuses on the tech industry, has also informed Twitter that it is also examining an offer for Twitter. However, it is unclear how high this could be and whether it will come at all, said the person familiar with the process. Thoma Bravo did not want to comment on this.

Twitter shares rose 3.5 percent on Monday to $46.68. That’s well below the $54.20 Musk is offering per share.

Financial investor Apollo is apparently considering participation in a Twitter offer

According to a press report, the US financial investor Apollo may want to get involved in a takeover of the short message service Twitter. The company is considering supporting either tech billionaire Elon Musk or another bidder with capital or loans in a bid, the Wall Street Journal (“WSJ”) reported on Tuesday night, citing people familiar with the matter Persons. The financial investor has also played through a possible cooperation between its Internet service Yahoo and Twitter. Apollo had taken over Yahoo from the US telecommunications group Verizon.

Musk made an attempt to buy Twitter last week. He already holds a good nine percent of the shares and offers all Twitter shareholders 54.20 US dollars per share. The 50-year-old explained that he had “technically” the necessary funds to pull off the deal worth more than 40 billion dollars (37 billion euros). The key question is whether enough current shareholders are willing to sell their shares at the price being offered. According to the “Wall Street Journal”, other financial investors such as Thoma Bravo are already interested in the short message service.

Twitter is resisting Musk’s takeover attempt. The countermeasure envisages other shareholders being able to buy additional shares at a bargain price if a buyer exceeds the 15 percent mark. The move is a classic “poison pill” that companies threatened by takeovers resort to. The Twitter board of directors announced that the plan should apply for a year. An exception would be if a deal is approved by the board of directors.

In NYSE trading on Tuesday, Twitter shares temporarily lost 3.98 percent to $46.52.

(Reuters) / NEW YORK (dpa-AFX)

Image sources: Quka / Shutterstock.com, 1000 Words / Shutterstock.com