According to the most recent publicly
available filings with the US Securities and Exchange Commission (US SEC), Vanguard now owns 82.4 million shares of Twitter, or 10.3% of the firm.
The Wall Street Journal reported that Vanguard’s holdings are now worth $3.78 billion, based on Twitter stock’s closing price on Wednesday.
The Journal said, “ Vanguard isn’t making a directional bet on Twitter…Instead, the majority of its assets are in index and other so-called passive funds. The firm often sides with management on voting issues and doesn’t advocate for changes like a hedge fund or activist investor might.”
The Vanguard group owned around 70.4 million Twitter shares as of last December, accounting for 8.8% of all outstanding shares.
Musk, on the other hand, is Twitter’s largest individual shareholder with company cofounder Jack Dorsey coming in second spot (again as an individual shareholder.)
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On Wednesday, Musk
offered to buy 100% of Twitter in an updated 13D filing with the SEC wherein he is offering $54.20 per share in cash to buy the San Francisco headquartered micro blogging site for $41.39 billion.He later landed a seat on the company’s board of directors
before reversing those plans.
Musk initially disclosed a stake in Twitter of about 73.5 million shares earlier this month, but his investment was reduced to 73.1 million shares, or 9.1% of the firm, a day later.
The Twitter board appeared to be against a purchase on Thursday. The board of directors was considering whether to use a “poison pill,” a defensive corporate technique that raises the price of the target’s stock in order to deter an undesirable takeover offer.
At a TED Talk in Vancouver, Musk hinted at the possibility of a hostile bid in which he would bypass Twitter’s board and put the offer directly to its shareholders, tweeting: “It would be utterly indefensible not to put this offer to a shareholder vote.”
@PoliticalShort @Twitter Absolutely. It would be utterly indefensible not to put this offer to a shareholder vote.… https://t.co/9Ujl6WGvYd
— Elon Musk (@elonmusk) 1649964397000
Musk’s Twitter polls
Musk, who has previously criticized the social media giant publicly, ran yet another poll on Friday. “Taking Twitter private at $54.20 should be up to shareholders, not the board,” Musk polled users with a yes or no option.
Taking Twitter private at $54.20 should be up to shareholders, not the board
— Elon Musk (@elonmusk) 1649967128000
Musk also tweeted a screenshot of a Goldman Sachs report from February 10, which showed a $30 price objective for the stock.
🤔 https://t.co/PfqYpLiuVd
— Elon Musk (@elonmusk) 1649974029000
Earlier this month, Musk started a Twitter poll asking users if they want an edit button.” Do you want an edit button?” tweeted Musk.
Do you want an edit button?
— Elon Musk (@elonmusk) 1649119686000