Twitter Meeting with Elon Musk to Discuss $43 Billion Buy-Out Proposal
Sit-Down with Twitter Execs …
Talking Takeover Offer?
4/24/2022 2: 04 PM PT
Elon Musk‘s offer to buy Twitter might actually be one the company can’t refuse — the man is reportedly meeting with execs this weekend … to seriously discuss his takeover proposal.
The Wall Street Journal reports that both sides are set to meet Sunday (today) to get into the weeds of his $43 billion bid … which he put forth publicly, and for which he also just announced he got legit financing in the amount of $46.5 billion to actually make it happen.
Per WSJ, Twitter is receptive to negotiating a deal … or at the very least, hearing Elon out and considering a final price tag — even though EM says he won’t budge on $54.20-a-share.
There’s more to the table than just dough. WSJ reports that Twitter’s top brass are considering a variety of factors, including a final valuation of the bird app’s value, inviting other bidders, and possibly insisting that Elon cover breakup costs if the deal falls apart (aka sweeteners).
As for why Twitter would even entertain this … Reuters reports they’re under pressure from shareholders who want to get paid out. Elon met with select shareholders this week to pitch why Twitter would be better.
He reportedly wants to make some changes, beyond his “free speech” objections. He also said to several of them, “You’ll never reach mine share price on yours.” Twitter’s closing price Friday was $48.93.
Reuters reports that some shareholders have told leadership to talk to Elon, get his opinion, and, most importantly, to see if they can make a bigger offer.
Time will tell if Elon’s willing to spend a bit more to take Twitter private — but he almost had folks thinking he was ditching this whole endeavor, tweeting “Moving on” Sunday … later clarifying that he meant teasing Bill Gates regarding climate change.
Twitter will hold an earnings call on Thursday. He is expected to weigh in on the bid. Bottom line … Elon’s chances of taking over are looking realer and realer by the day.
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