:format(jpg):watermark(cloudfront-eu-central-1.images.arcpublishing.com/ipmgroup/EF665FJJCNGHFFHRRMWR57UKMI.png,0,30,0,100)/cloudfront-eu-central-1.images.arcpublishing.com/ipmgroup/7R7NY7PMKZHRJL6F6NVLW2GYJU.jpg "Elon Musk may buy additional Twitter shares")
Elon Musk, who is also the founder and CEO of space company SpaceX, would normally have joined Twitter’s board of directors, but announced at the last minute that he ultimately would not. According to the financial news agency Bloomberg, which was able to view a transparency statement, this means that he is no longer bound by an agreement to keep his stake in Twitter below 14.9%. The billionaire has already acquired 9.2% of the company’s shares in recent weeks, making him the largest individual shareholder.
According to a statement filed with US watchdog SEC, Elon Musk currently has no “no plan or intention” to acquire additional shares, but “reserves the right to change plans at any time“in light of, among other things, the share price and”the relative attractiveness of alternative investment opportunities“.
The stock filing also hints at possible talks between Musk and Twitter’s board about mergers or other strategic alternatives. Finally, the billionaire, an avid user of Twitter, can make his point of view known to the board of directors or to the public “through social media or other channels“, can we read.
Twitter opened 2.4% lower on the New York Stock Exchange on Monday. Investors reacted with disappointment to the news that Elon Musk will ultimately not be a director of the company.
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