BCLP Partner in ‘Bloomberg’ on Elon Musk Twitter Deal
BCLP Partner Kenneth Henderson was quoted April 25 by Bloomberg concerning Elon Musk’s deal to take Twitter Inc. private for $44 billion. As part of the deal, Twitter said it will report first-quarter earnings as planned on April 28 before the market opens in New York, but won’t host a call to discuss the results. While the U.S. Securities and Exchange Commission will have to review the plan once Twitter files a preliminary proxy statement, the regulator doesn’t have the power to block the merger. Still, the SEC can slow the process down by asking Twitter for clarification on aspects of the deal, Ken noted. The company’s shareholders will vote to approve the transaction only once all of the agency’s questions are answered.
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