25 Apr Elon Musk and Twitter are in discussions for a takeover again
The merry-go-round drama between Elon Musk and Twitter continues. Musk and Twitter are now in discussions again for the world’s richest man to take over the social media platform, according to Reuters. News of this new round of talks broke on Sunday and follows after Twitter adopted a poison pill to stop any Musk takeover. So, what’s changed?
Twitter shareholders reportedly became more interested in a Musk takeover after the billionaire assembled a $46.5 billion funding package from financiers. Reuters says the financial package doesn’t guarantee Twitter’s board will agree to a deal, but they are now considering one.
The company does still have several concerns, however. It’s worried regulators in certain markets may object to Musk buying the platform, making any deal troublesome. It also wants to be made aware of any active investigation into Musk by the Securities and Exchange Commission, which could complicate a Musk takeover, too.
Musk has offered $54.20 a share for Twitter, calling it his “best and final” offer. However, Reuters says some active longhorn Twitter shareholders want to give Twitter some time to raise the value of Twitter’s stock. If Twitter’s stock price increases, it could force Musk into offering more for the company.
Source: Fast Company
Sorry, the comment form is closed at this time.