Musk’s termination of the acquisition of Twitter was countered, Tesla’s stock price rose: I responded to giving birth to 9 children to improve child care benefits
Musk’s legal team issued a letter Friday formally trying to withdraw from the agreement to buy Twitter. After the news was released,Tesla shares rose in after-hours trading on Friday as investors reacted positively to Elon Musk’s announcement to end the $44 billion acquisition of Twitter, whileAffected by the news, Twitter’s stock price fell sharply after the market.
Shares of Twitter, which initially rose in early April after Musk disclosed his stake in the company, have also fallen. Since April 4, Twitter shares have fallen 26.34%, with a market value of $28.31 billion. Twitter shares traded at $36.81 on Friday, well below Musk’s cash offer for Twitter, which valued the business at $54.20 per share.
Twitter’s board has pledged to fight Musk. Twitter Chairman Bret Taylor tweeted on Friday: “The Twitter Board is committed to closing the transaction on the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement. We believe we will be in the Delaware Chancery Court. win.”
Musk, however, did not appear to be bothered by the incident, and later tweeted that he plans to significantly increase childcare benefits at his company, with more details to be announced next month. Musk, the CEO of well-known companies including Tesla and SpaceX, made the remarks a day after he said he would do his best to deal with the so-called underpopulation crisis.
“If possible, the kids are worth it, and I plan to significantly increase the company’s childcare benefits,” Musk tweeted on Friday. He also said the Musk Foundation would provide private funding and plans to donate directly to families , and called on other companies to do the same.
Earlier media reports said Musk and Shivon Zilis, an executive at the brain-computer interface company Neuralink, gave birth to twins in November last year. According to current public information, Musk has a total of 9 children.
The news quickly spread around the world, and Musk himself responded that he was doing what he could to help solve the underpopulation crisis. He also reiterated that the plummeting birth rate is by far the greatest danger to human civilization.
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