Twitter (TWTR, $46.87) shares move higher, after Musk's tender offer and his tweet on board elimination
Micro-blogging website Twitter shares climbed on Monday, but are still lower than the takeover bid offered by Elon Musk last week.
Musk , Tesla’s CEO, tweeted on Monday that he would eliminate all board members, taking collective salaries to "$0 if my bid succeeds, so that’s ~$3M/year saved right there".
Last week, Musk announced a surprise $43 billion takeover bid, around a week after he had submitted a filing with the Securities and Exchange Commission mentioning that he was a passive investor in Twitter. This led to Twitter adopting the strategy of a ‘poison pill’ defense (where the strategy allows existing shareholders to buy more Twitter stock at a discount should any one, or a group of, investors try to gain control of 15% of the company without board approval). Twitter’s adoption of the poison pill tactic puts Musk’s takeover on hold at present.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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