Twitter is reviewing Elon Musk’s acquisition proposal, with discussions between the two sides ongoing Sunday, The Wall Street Journal reported, after the billionaire said on Thursday that he had secured the deal. necessary financial resources.
“Twitter is looking at a new offer and is more likely than before to find a way to negotiate,” the business daily reported, citing sources familiar with the matter.
Tesla CEO Musk said on Thursday that he has secured nearly $46.5 billion (about Rs 3,54,562) to fund the transaction, but he also plans to appeal directly to the company’s shareholders when he wants to take over the social media platform.
The Twitter the board of directors opposed the proposal, queue one The “poison” clause makes it difficult for Musk to buy more than 15% of the company’s shares through the market. He currently owns 9.2% of the shares.
“The potential boom on Twitter comes after Mr. Musk met privately on Friday with some of the company’s shareholders,” the Journal reported.
According to the Journal, Musk is “committed to addressing the free speech issues that he considers troubling the platform and the country, whether or not his bid is successful.”
Musk has previously cited concerns about freedom of speech as a motivation to buy the platform, although free speech experts have pointed out that Musk’s unpredictable claims and history Bullying critics is at odds with his stated goal.
Sources told the Journal it “put out its offer to select shareholders in a series of video calls, focusing on actively managed funds … in the hope that they might do.” change the company’s decision”.
Last week, the polarizing billionaire said he was considering bypassing Twitter’s board of directors in a takeover attempt by buying shares directly from existing shareholders, “but has not yet determined whether to do so.” at this time or not,” according to a securities filing released Thursday.
The magazine said Twitter could make an announcement on the matter on Thursday or even before that, according to these sources.
Recently, Musk apparently told Twitter chairman Bret Taylor his initial offer on April 14 was $54.20 (about Rs 4,050) per share unchanged, the daily added. .
Twitter previously invited Musk to join its board, but SpaceX head refused.
