The novel Twitter vs Elon Musk is not over. In fact, it is just beginning. The new chapter: Shareholders of the social network are pressing the board of directors to negotiate with the South African tycoon who co-founded Tesla.
Although Musk has already said that his offer of 43 billion is his “best and last” proposal, the truth is that shareholders want to see how far the millionaire is able to go, he says. Reuters.
The opinion among Twitter shareholders is not unanimous on the idea of selling the network to Musk or not, but they do agree that the board should not miss the opportunity to analyze an agreement, different sources told the news agency in the form. exclusive this Sunday April 24th..
All eyes in the tech world will be on Thursday, April 28, when Twitter presents its first fiscal quarter results. All indications are that the board says the cash offer of $54.20 per share falls short of expectations.
- One of the alternatives that Twitter analyzes is show the accounting books to Musk to try to convince him to improve his offer.
- Another possibility is that open the game to other potential bidders.
One of the sources told Reuters that this week Musk could offer $64 a share. On the contrary, another informant assures that he “could abandon the purchase attempt”.
Twitter shares ended Friday’s trading at $48.92, down significantly from the Tesla founder’s offer.
What will Elon Musk do with Twitter?
It should be remembered that Twitter activated the so-called “poison pill” after Musk bought 9.2% of Twitter in early April. The strategy seeks to prevent the tycoon from increasing his participation in the company above 15% without negotiating with the board of directors.
In response, Musk was “aggressive” in terms of Wall Street: he is considering launching a public offer to seek the support of shareholders directly.
This is the most indicative sign that the board could open a channel of dialogue with Musk. It is that if he does not seek to negotiate, many shareholders could support the businessman.
In this case, while the “poison pill” would prevent shareholders from selling off their stock en masse, the company is worried about losing any chance of trading.
Reuters is not the only international outlet that has brought the issue to the fore.
The Wall Street Journal reported this Sunday that There have been meetings between Elon Musk and Twitter shareholders.
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