Yesterday, Twitter began talks about a possible sale of the company to Elon Musk. The company’s decision to discuss the matter does not mean it will accept his offer of $54.20 per share, sources said. However, this means that Twitter is now exploring the possibility of selling the company to Musk on attractive terms.
Musk, Tesla’s chief executive, has been meeting with Twitter shareholders over the past few days seeking support for his bid. He believes that Twitter should go private in order to grow further and become a true free speech platform.
Musk’s insistence that his Twitter bid is his “best and last” has been an impediment to negotiations, the sources said. However, Twitter’s board decided to contact Musk to gather more information about his ability to complete the deal and possibly get better terms, the sources added.
Twitter has not yet decided whether the company will consider a sale or try to pressure Musk to raise the price, the sources said. Twitter is also looking into whether regulators in any of its major markets will object to Musk’s ownership of the company. If Twitter determined that selling Musk would be risky, the sources said, it could charge a significant fee to break the deal.
The company agreed to talks after Musk offered to try to stop him from raising his more than 9 percent stake in the company above 15 percent without talking to its board of directors.
Representatives for Twitter and Musk did not respond to requests for comment.
Source: ixbt
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
