Updated · May 20, 2022
Elon Musk Meets With Twitter Board in Takeover Talks
Updated · Apr 25, 2022
The Tesla CEO wooed a number of shareholders in a bid to push through his takeover move.
Closer to an Agreement?
On Sunday, the Twitter board met with Elon Musk as the billionaire entrepreneur looks to finalize a $43 billion takeover of the platform. This comes after Musk attempted to woo some shareholders with his financing details.
The SpaceX chief executive revealed that he secured the means to fund his bid via a regulatory filing on Thursday. He will provide $33.5 billion from personal funds of the total amount offered.
However, according to reports, the meeting on Sunday does not make it a given that shareholders will accept his $54.20 a share bid. Musk is clear that this is his “best and final offer” for Twitter, one of the world’s biggest social media platforms.
There was speculation that Musk planned to buy Twitter since he first revealed his 9.2% stake, making him the company’s largest shareholder. After initially accepting an invitation to join the board, he abruptly changed his mind.
Since then, the world’s richest man has been vocal about his disdain for the Twitter board. Especially after it voted to adopt a poison pill strategy to resist his acquisition bid. Musk plans to take the company private if his plan succeeds. His vision is one where it becomes a platform for “free speech”.
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
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