Elon Musk‘s offer to buy Twitter could be too good to pass up; the billionaire is allegedly meeting with executives this weekend to explore his takeover proposal.
According to the Wall Street Journal, both sides will meet on Sunday (today) to hammer out the details of his $43 billion deal… which he declared publicly, and for which he also just claimed he has secured legitimate funding for $46.5 billion to make it happen.
According to the Wall Street Journal, Twitter is open to discussing a deal… or at the at least, hearing Elon out and considering a final price tag, despite EM’s refusal to bend on $54.20-a-share.
There could be more on the table than simply dough. According to the Wall Street Journal, Twitter executives are considering a variety of issues, including a final estimate of what they believe the bird app is worth, the potential of inviting other bids, and possibly even demanding on Elon absorb breakup expenses if the sale falls apart.
As for why Twitter might even consider it, Reuters claims that the company is under pressure from shareholders who want their money. Elon met with a small group of high-ranking Twitter shareholders this week to make his case for why the company would be better off in his hands.
Allowing for longer tweets and shifting away adverts are among the things he wants to change (beyond his “free speech” objections). He is also said to have informed several of them that they would never be able to reach my share price on their own. The closing price of Twitter on Friday was $48.93.
According to Reuters, several shareholders have told the company’s leadership that they should not just chat to Elon and get a feel for him, but also see if they can get a better deal.
Time will tell if Elon is ready to invest a little more to make Twitter private — although he almost gave the impression that he was abandoning the project when he tweeted “Moving on” on Sunday, later explaining that he was mocking Bill Gates about climate change.
Twitter will hold an earnings conference on Thursday, and it is anticipated to comment on the deal. In the end, Elon’s chances of taking over are becoming more realistic by the day.
