Elon's 4D chess moves vs Twitter's board slowly get (possibly) revealed - From
@sashayanshin's YouTube video as summarized by
@Artful Dodger in the
Twitter thread : " .. Sasha Yanshin has a pretty good bead on this one. He thinks it was necessary for Elon to delay reporting to creep up on the 10% threshold, and he will simply settle the lawsuit out of court (he'll just pay them the difference between whatever they sold at before they knew Elon was buying, and his 'best and final bid' of $54.20 per share)
He further thinks that Elon has 10 days after the end of the month in which he passes 10% ownership before he has to report the change.
And at a rate of ~2% share accumulation per trading session, Elon may be able to exceed 50% common share ownership BEFORE he is required to report that he even has over 10%
... Elon could be accumulating on the open market right now. and that he's effectively 'capped' the shareprice at $54.20 for the duration while he's accumulating a majority of voting shares. "
As @sachayanshin says, this is likely all masterful doings /timings - with this $54.20 offer Elon effectively anchored Twitter's SP so he can continue to accumulate till May 7th at a 2% per day rate, w/o spooking the SP up, by which date he'll have to report the 10% + change in ownership to the SEC.
So, either way whether the board accepts or not, Elon wins, it's checkmate. Majority ownership or acquisition secured by May 7th.
Now the clincher:
Tesla's balance sheeet happens to have $17.5B which is approximately 51% of Twitter's market cap.
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This weekend expecting more fireworks /amusement for the Tesla saga - latest being as Elon Tweeted, how clumsy/ laughable the move by Twitter's board to hire
Goldman Sachs as advisors - showing how $54.20 is not in the interest of Twitter's shareholders when Goldman Sachs has a 12 month target price of $30, uh oh ..
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