Governor DeSantis takes on Musk’s Twitter bid, Retirement Fund’s retirement state holds 946,960 shares

Ni l’auteur, Kingsley Alo, ni ce site Web, The Tokenist, ne fournissent de conseils financiers. Please review our website policy before making any financial decisions.

Le gouverneur Ron DeSantis de Floride a déclaré que l’État de Floride pourrait intervenir dans l’offre d’achat de Twitter du milliardaire Elon Musk. He made the proclamation at a press conference on Tuesday which was organized to sign a new bill that strengthens accountability in higher education.

De Santis made this declaration in response to Elon Musk’s offer of more than $ 40 billion for the pure and simple purchase of Twitter. The board of directors of the social media giant responded to the proposal by opting for a poisoned pill strategy to prevent hostile takeover from performing.

Therefore, with the state pension fund invested in Twitter, its governor thinks they may not be on the sidelines for long. He revealed that an action against the Twitter board of directors could be imminent, accusing them of having violated their fiduciary obligations. He added that the investment had not given a great return and had been stagnant for many years.

Additionally, DeSantis accused the microblogging platform of censoring voices, including the New York Post and Bumble Bee. He said Twitter uses its power to control the narrative while preventing people from speaking their minds. Pourtant, ils se présentent comme une institution dédiée aux idéaux de la liberté d’expression.

Finalement, il a soutenu la tentative d’Elon Musks d’acheter l’entreprise, croyant que cela entraînerait la liberté d’expression à Twitter. He thinks that the Council does not want that, hence their rejection. Additionally, the fact that they cannot easily control musk is also a concern. He said,

“I don’t think it was a rejection based on financial concerns or business judgment. They rejected it because they know that they cannot control Elon Musk. They know that he will not accept the story and that their little twitter toy, it would not be used to enforce orthodoxy and to fundamentally support the regime and these media inherited in bankruptcy. And that’s why they did it. Ce n’était pas, à mon avis, parce que ce n’était pas une bonne affaire.

When asked if the fund would plan to sell its actions to Musk after proposing to store by his side, Desantis rejected him. He said that having the actions puts them in a position to require accounts of a company that lacks its fiduciary obligation.

Join our Telegram group and never miss a breaking digital asset story.

Uncertainty exists on the Desantis affair against Twitter

En dépit d’être véhément dans sa position, il existe une incertitude quant au cas de DeSantis contre Twitter. According to Bloomberg, the Florida pension fund has 949,690 shares on Twitter as of December 31. This gives its governor the power to bring legal action against the platform.

However, it’s unclear if DeSantis can do much else that would mean government interference in private industry. The economic theory of laissez-faire exists to protect the free market from government intervention. Although the government controls the private sector through policies, its involvement is limited.

Alors que les arguments sur ce que DeSantis peut faire rage, la saga Musk-Twitter a pris une nouvelle torsion. Musk, who made a profit of $156 million after buying a 9.2% stake in Twitter, may have hinted at a potential tender offer. He posted a cryptic tweet with a blank space for a word followed by the phrase “is the night”.

After the tweet, speculation had mounted over its meaning. The statement was seen as a disguised reference to F. Scott Fitzgerald’s masterpiece ‘Tender Is the Night’. This implies that the richest man in the world may intend to approach Twitter shareholders directly to acquire their shares at a specified price over a specified period.

Le nouveau message de Musk est son deuxième en moins d’une semaine, ce qui indique qu’une offre publique d’achat pour Twitter pourrait être en préparation. During the weekend he tweeted “Love Me Tender”, the title of an Elvis Presley song.

Reports suggest Musk is scrambling to find backers for his proposed bid to buy Twitter. Tesla’s CEO is incumbent on buying through a complex deal that includes debt to the company and possibly his own stock. The deal will also involve a significant injection of equity from the co-investors.

Cependant, les investisseurs potentiels sont préoccupés par son modèle de comportement imprévisible et de goût pour la controverse. Nonetheless, Musk is willing to invest between $10 billion and $15 billion of his own money in the effort.

Finances change.

Learn how, with five -minute finances.

A weekly newsletter that covers major trends in FinTech and Decentralized Finance.

Do you think the Florida state government has the right to interfere in the ongoing Musk-Twitter saga? Let us know your thoughts in the comments below.

About the Author

Dolores W. Simon