Elon Musk made more headlines than ever when he proposed to buy Twitter very recently. While it was suggested that the deal will never be an option for Twitter after it adopted the “poison pill” strategy, a recent report tells us a different story. As per Reuters, Twitter might actually be considering the offer. Here’s what you need to know.
Musk Will Finally Buy Twitter?
A recent report by Reuters suggests that Elon Musk met with Twitter’s board this Sunday to discuss the possibilities of the proposal. The board seems to be reconsidering the offer and might further negotiate with Musk. And if everything falls into the place, there are chances Musk will buy Twitter.
This comes days after Musk suggested that he had secured around $46.5 billion for the buyout and was also planning to directly deal with the shareholders to take over Twitter. It is revealed that Musk made the bid to a few shareholders with the aim to change the company’s decision and was indeed able to impress those shareholders, which has now resulted in the negotiation talks.
For those who don’t know, Musk recently made the “best and final” offer of buying Twitter for $54.20 per share. This non-binding proposal involved the acquirement of Twitter’s outstanding common stock at around $43 billion. The Tesla CEO aimed to make Twitter a better place for free speech after buying it and even suggested that he might drop out as a shareholder if the deal is denied.
However, soon after, the board came up with the “poison pill” measure, which restricted Musk from acquiring more than 15% shares. He currently owns 9.2% of them, making him the largest shareholder of Twitter.
It is further reported that Twitter is also finding out if there are any investigations by regulators against Musk, and if there are any, it could be another hindrance in the deal.
Hence, it becomes obvious that Twitter is only considering the offer, and it currently remains to be seen if Musk ends up winning the bid. It is revealed that Twitter might announce confirmed details this week. We will keep you posted on this. So, stay tuned and do tell us how you would like it if Elon Musk bought Twitter in the comments below.