According to the recent reports, Twitter once again started fresh negotiations with billionaire Elon Musk on Sunday, April 24, for a complete takeover of the company. Elon musk’s Twitter is already jam-packed with the shareholders and individuals who want Twitter to reconsider the decision.
In recent days, Elon Musk has managed to woo Twitter (NYSE: TWTR) shareholders who have thrown their weight backing the billionaire for a $43 billion takeover offer.
Last Thursday, Elon Musk outlined a detailed financing plan for the Twitter takeover. He said that Twitter needs to be taken private to make it a genuine and trusted platform for free speech. Further, Musk has put a bid offer at $54.20 per TWTR stock, which is currently trading at $48.0.
Moreover, the sources familiar with the matter said: “Twitter is taking a fresh look at the offer and is more likely than before to seek to negotiate”.
“Mr. Musk met Friday privately with several shareholders of the company to extol the virtues of his proposal while repeating that the board has a “yes-or-no” decision to make”. He further “pledged to solve the free-speech issues he sees as plaguing the platform and the country more broadly, whether his bid succeeds or not”.
In addition, Musk has also reached out to some select shareholders of Twitter. He’s reaching out to them via a series of video calls while focusing on the actively managed funds.
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Elon Musk’s War With Twitter
After Elon Musk made a bid for a complete takeover, the social media giant decided to adopt the “poison pill”. The goal was to prevent Musk from raising more than a 9% stake in the company. However, Musk launched a tender offer while garnering shareholders’ support for this bid.
Though, some of the existing shareholders of Twitter have argued that the proposed bid by Musk is below the intrinsic value of the company. Sources said that Musk could increase his bid in that case!
Previously, Elon Musk proposed some changes with a paid subscription model for Twitter Blue services to control the bot army. He even proposed Dogecoin payments for this subscription.