The board spoke with the billionaire on Sunday, who detailed his funding plan. He intends to buy the social network for 43 billion dollars.
Will the board of directors of Twitter announce in the next few hours the sale of the social network to Elon Musk? According to the Anglo-Saxon press, the two camps worked throughout the night from Sunday to Monday on the file and the administrators of the social network could give their agreement. Twitter would be sold for 43 billion dollars, the price initially proposed by the billionaire.
Twitter shares gained 4% at the opening of trade on Wall Street, to 50.95 dollars.
Discussions are taking place on Sunday between the two camps, after the boss of Tesla said on Thursday that he had secured the sum necessary for this transaction, according to the Wall Street Journal.
Read alsoElon Musk attacks Twitter and offers to buy the social network for 43 billion dollars
“Twitter takes a fresh look at the offer and is more likely than before to look to negotiate”, believes the business daily, citing close sources. The boss of Tesla had indicated Thursday that he had secured nearly 46.5 billion dollars to finance this transaction, but also that he was considering going directly through Twitter shareholders to buy the social network. The board of directors of Twitter had opposed the acquisition by adopting a so-called clause of the “poison pill” to make the takeover more difficult if it reaches 15% of the capital of Twitter on the stock market. He currently owns 9.2%.
Also according to these sources, “The potential U-turn from Twitter comes after Mr. Musk met privately with several shareholders of the company on Friday”. He “also pledged to find a solution to freedom of expression problems (…), whether its 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”.
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“Influencing the company’s decision”
The boss of Tesla put “emphasis on actively managed funds, these sources saidin the hope that they might influence 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.
Elon Musk has also “reiterated in recent days to Twitter Chairman Bret Taylor that he would not budge from his offer of $54.20 per share” formulated on April 14, the Wall Street Journal still believes. Twitter then offered Elon Musk to join its board of directors, but the multi-billionaire declined the offer.
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