iDeemlawful
The founder of Twitter, Jack Dorsey, has reacted to the recent hostile takeover drama which involved billionaire businessman, Elon Musk and the board of the social media platform.
In his reaction, he said “As a public company, Twitter has always been for sale. That’s the real issue. I wasn’t pushed out. I left,” Dorsey said on his Twitter handle Friday
This online news platform had published that Musk moved to buy a 100 percent stake in Twitter.
After initially acquiring 9.1 percent shares in the microblogging platform last month, he offered about $40 billion to complete the deal.
The Tesla Owner declared that if Twitter board reject his takeover bid, he would be pushed to withdraw his $3.29 billion investment in the firm, a move that is capable of crashing market value of the social media.
Meanwhile, The board refused to accept his demand, and this majorly include one of its investors, Vanguard Group, had increased its investment in Twitter to become the largest stakeholder, displacing Musk at the top.
READ ALSO: Elon Musk Moves To Buy Twitter, Threatens to Exit Investment If Offer Is Rejected
Another major investor, Saudi Arabia’s Kingdom Holding Company, also publicly rejected his offer.
However, Dorsey insisted that Twitter has always been up for sale because it is a private company. He also denied his exit from Twitter was due to Musk’s interest in the platform.
