It only seems to be a matter of days, if not hours. Twitter is set to accept Elon Musk’s takeover proposal. According to several sources, cited in particular by the New York Timesthe wall street journal and CNBCthe blue bird social network could announce on Monday its acquisition by the boss of Tesla
According to the wall street journal, discussions took place on Sunday between the two camps. Elon Musk said on Thursday that he had secured nearly $46.5 billion to finance the transaction.
Twitter’s board of directors had opposed the acquisition by adopting a so-called “poison pill” clause to make the takeover more difficult if it reached 15% of Twitter’s share capital. He currently owns 9.2%.
Make Twitter “the platform for free speech in the world”
Still according to the sources of WSJ, “the potential turnaround from Twitter comes after Mr. Musk met privately with several shareholders of the company on Friday.” He “also undertook to find a solution to the problems of freedom of expression (…), whether his offer is accepted or not”, it is specified. Elon Musk said he wanted to make Twitter “the platform for freedom of expression in the world”. The Tesla boss has “emphasized actively managed funds, these sources said, in hopes they could sway the company’s decision.”
He had indicated Thursday that he was considering going directly through Twitter shareholders to buy back their shares, without going through the board of directors (CA), but had not confirmed that he could have recourse to a public offer of unfriendly purchase.
Twitter stock soars
Twitter should in any case speak no later than Thursday, when publishing its first quarter results. Elon Musk has also “reiterated in recent days to the president of Twitter, Bret Taylor, that he would not budge from his offer of 54.20 dollars per share” formulated on April 14, the Wall Street Journal still believes.
Following the rustling of redemption, the action of the social network rose by nearly 4% on Monday in the first exchanges on Wall Street.