At first it looked like Elon Musk would get nothing. Now Twitter probably rowed back. Initial negotiations for a purchase price of $46.5 billion have begun.
According to a media report, apparently under pressure from shareholders, Twitter is now negotiating with Tesla founder Elon Musk about his offer for the short message service. There were talks on Sunday, the Wall Street Journal reported, citing insiders. Twitter takes a “new look” at the offer. The reason for the possible change of heart is Musk’s video conferences with “selected” Twitter shareholders.
Elon Musk could buy Twitter for 46.5 billion
Musk says he has the funds for a possible takeover of Twitter – $46.5 billion (around €43 billion) – and is considering a direct purchase offer to shareholders. The founder of the electric car manufacturer Tesla and the aerospace company SpaceX announced last week that he wanted to completely take over Twitter. In the weeks before, Musk had bought just over nine percent of the shares, making it the largest shareholder in the short message service.
However, the company management initially resisted a takeover. The board of directors approved a plan that would strengthen the rights of current shareholders and make an acquisition more difficult for Musk.
Comment expected on Thursday
The plan allows shareholders to purchase additional shares at a lower price. It is also planned that in the event of a possible takeover of the company through the large-scale purchase of shares, the buyer will have to pay a so-called control premium to the other shareholders.
According to the Wall Street Journal, Twitter could make an official statement on Thursday when the quarterly figures are due to be announced, or even earlier. Accordingly, Twitter could propose “other offers or other conditions” to Musk. In the past few days, Elon Musk has repeatedly emphasized to Twitter Chairman Bret Taylor that he will not increase his offer of $ 54.20 per Twitter share, the newspaper reported.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
