學門類別
哈佛
- General Management
- Marketing
- Entrepreneurship
- International Business
- Accounting
- Finance
- Operations Management
- Strategy
- Human Resource Management
- Social Enterprise
- Business Ethics
- Organizational Behavior
- Information Technology
- Negotiation
- Business & Government Relations
- Service Management
- Sales
- Economics
- Teaching & the Case Method
最新個案
- A practical guide to SEC ï¬nancial reporting and disclosures for successful regulatory crowdfunding
- Quality shareholders versus transient investors: The alarming case of product recalls
- The Health Equity Accelerator at Boston Medical Center
- Monosha Biotech: Growth Challenges of a Social Enterprise Brand
- Assessing the Value of Unifying and De-duplicating Customer Data, Spreadsheet Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise, Data Supplement
- Building an AI First Snack Company: A Hands-on Generative AI Exercise
- Board Director Dilemmas: The Tradeoffs of Board Selection
- Barbie: Reviving a Cultural Icon at Mattel (Abridged)
- Happiness Capital: A Hundred-Year-Old Family Business's Quest to Create Happiness
Elon Musk's Twitter Deal: Valuation and Financing of the Leveraged Buyout
內容大綱
On April 14, 2022, Elon Musk offered to buy Twitter Inc. for US$54.20 per share, for a total cost of US$44 billion. Musk hoped to make the social media network a platform of free speech, and the company profitable and cash flow-positive far more quickly than its management team at the time. Musk's leveraged buyout was mainly funded by a margin loan backed by his own shares in his company, Tesla Inc. On July 8, 2022, Musk announced that he was backing out of the deal. Almost immediately, a lawsuit was filed to force Musk to close the deal as required by the merger agreement. In response, Musk had to decide whether his bid of US$54.20 per share was still a fair valuation for the purchase, if a leveraged buyout with a margin loan was the best financing plan, and whether to confirm or abandon his agreement to buy Twitter Inc. If he chose to walk away from the deal, he would have to consider the potential loss, depending on the outcome of the pending lawsuit in the Delaware Court of Chancery.