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Twitter Is Reportedly Re-Examining Elon Musk’s $43 Billion Takeover Bid
Dado Ruvic / reuters
April 25th, 2022 | 14:39 PM | 295 views
CALIFORNIA, UNITED STATES
The company is expected to weigh in on the proposal this week.
Twitter may be warming up to the idea of selling itself to Elon Musk. According to The Wall Street Journal, the company is re-examining Musk’s takeover bid after the billionaire announced he had the financial backing to get the deal done. When Musk first announced he was ready to pay $43 billion to buy the social media giant, noting at the time it was his “best and final offer,” Twitter was widely expected to reject the proposal. The company even went so far as to adopt a so-called “poison pill” strategy to ward off a hostile takeover attempt.
But Twitter is now “taking a fresh look” at Musk’s offer and is more likely to engage in negotiations, according to The Journal. The outlet reports the two sides are meeting on Sunday to discuss the proposal, but a handful of hurdles could complicate negotiations. For instance, company executives could insist on Musk agreeing to monetary protections if the deal falls through.
Twitter declined to comment on the report. When Musk first announced his bid, the company said it was committed to a “careful, comprehensive and deliberate review” of the offer. It’s very likely we’ll learn how Twitter plans to proceed sometime in the next few days. The Journal reports the company will weigh in on the situation when it reports its first-quarter earnings on Thursday, “if not sooner.”
courtesy of ENGADGET
by Igor Bonifacic
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