Saudi Prince Al Waleed opposes the deal, bulldozed by new Twitter owner Elon Musk, I reject offer: TalalThis Twitter shareholder is a Prince of Saudi Arabia. Musk's offer has drawn sharp criticism from Saudi Prince Al Waleed bin Talal. Author : Rohit Gupta
Microblogging platform Twitter has been bought by the world's richest man Elon Musk for $44 billion. The deal will be completed by the end of this year.
However, after the deal was agreed upon, now the biggest secret is $ 21 billion in 'cash', which Elon Musk has personally taken responsibility for.
How is Elon Musk going to cover the $21 billion equity portion of the transaction? The question of how and from where Musk will arrange such a huge amount remains a mystery.
However, earlier Billionaire businessman Elon Musk offered to buy a microblogging website Twitter pitted a large stake in the company against him.
This Twitter shareholder is a Prince of Saudi Arabia. Musk's offer has drawn sharp criticism from Saudi Prince Al Waleed bin Talal.
Elon Musk buy Twitter
Elon Musk created a stir on Thursday by making a big offer. Recently, after buying a 9.2 per cent stake in Twitter, the world's richest person had offered to buy Twitter. For this, he had said to pay $ 41.39 billion (Rs 3.2 lakh crore) in cash.
On Musk's offer, Prince Talal said in a tweet, "I don't think the price of one share of Twitter proposed by Elon Musk ($54.20) is even close to its intrinsic value given the company's growth prospects."
He further added that as one of Twitter's largest and long-standing shareholders, I and Kingdom Holding Company decline the offer.
In this reaction to Prince Talal, Elon Musk has asked him two questions. The first question he has asked is, how much of Twitter is directly and indirectly owned by the Kingdom? The second question asked is what is the stand of the Kingdom regarding the freedom of expression of journalists.
According to a report, under this offer to buy Twitter, Musk is ready to pay $ 54.20 for every share of Twitter. The 50-year-old Musk has given information about this proposal in a filing with the US Securities and Exchange Commission on Thursday, the report said.
After this announcement, Twitter's shares jumped up to 3.10 per cent on Wednesday and closed at the level of $ 45.85.