Twitter is reconsidering Elon Musk’s offer to take over the social media giant. However, the social media company turned the billionaire down when he first mentioned his wish to take it over. Sources say that the two parties are allegedly going to have a meet up on Sunday regarding this issue.
Elon Musk expressed his desire to buy Twitter on April 14. However, everyone expected the social media company to turn down the billionaire’s offer. Musk says he wants to take over the company because it is not living up as a potential platform for freedom of speech. But the next day, its board approved a measure that would protect it from hostile acquisition bids. This move is often referred to as swallowing a “poison pill”. Nonetheless, Elon Musk has already announced that he lined up financing for the bid. The world’s richest person acquired nearly $26 billion from over 12 investment banks and financial institutions. Besides that, he is ready to bid $21 billion from his personal chest. After several enquiries and rethinking, it is rumored that Twitter has begun reconsidering into the matter.
Twitter and Musk to Hold a Meeting on Sunday
Elon Musk already owns 9 percent shares of Twitter. Henceforth, the rest $47 billion bid will lead to him acquiring the other 91 percent of the social media giant as well. Twitter is expected to speak on the issue this Thursday or maybe sooner. It is the day when it reports its first quarter earnings of the year. Some sources also say that Musk along with other shareholders of the social media giant met on Friday. There, Musk emphasized the board to make a yes or no decision. Primarily, However, the two parties will probably decide what to do on Sunday. As of now, the social media company has not commented on the issue.
