Under pressure from shareholders, Twitter opens negotiations with Elon Musk

Shares of Twitter closed at $48.93 on Friday, sending orders to Musk, who reports uncertainty over deals.

Twitter, Inc. is under increasing pressure to deal with partners Elon Musk, even as the world's richest man has been described for a $43 billion social media platform as their best and lowest offer, they said. on Sunday people familiar with the matter.

As Twitter shareholders voiced their views on the deal price, many approached the company after Musk drafted his plans on Thursday and urged him not to jump at the chance to negotiate a deal, the sources said. of anonymity in chap.

Twitter's board is expected to meet Musk's $54.20 per share for the company at a very low rate, it reports quarterly earnings on Thursday. The sources told Reuters that some shareholders are still willing to accept that position with Twitter seeking to improve the situation for Musk, whose net worth Forbes estimates at $270 billion. 

      

One option available to the Twitter board is to try to persuade Musk to open his books and try to improve his presentation. Another problem could be bid rigging from other potential bidders. The sources said that while it is not yet clear how he will receive Twitter, it is more likely that Lord Musk will try to improve his offer from the board, even if he rejects the current offer.

"I wouldn't be surprised to wake up next week and see what Mr. Musk described as his best and last offer of $64.20 a share," a fund manager said on Twitter during an anonymous discussion. Secret conversations with a group.

"He can also give radically anything. Anything is possible," said fund manager Lord Musk.

Twitter shares closed at $48.93 on Friday, thanks to a bid to Musk's bid, raising questions about the bid.

Twitter took the poison pill after Elon Musk ordered it to prevent him from acquiring more than 9% of the company's shares to more than 15% without negotiating with his board. In response, Musk threatened to use the support of his partner on Twitter to withdraw his permission.

The sources said the concern the board sees in an email is that unless it seeks to broker negotiations with Lord Musk, it could support multiple shareholders in the bidding process. The sources added that while Twitter will bar Pill shareholders from offering their shares, the company is concerned that its debt management could be significantly weakened if it turns out to go against the wishes of many of its investments.

Mr. Musk, CEO of Tesla Inc. The electric vehicle maker, who was on Twitter, revealed that since his April 14 tour he has sought support for offers from him. Musk said that Twitter is taking on a private way to grow and become a platform for true freedom of expression.

Representatives at Twitter and Musk did not immediately respond to requests for comment.

The Wall Street Journal on Sunday reported on some encounters with Musk's followers on Twitter. The newspaper also announced that Musk and Twitter would meet on Sunday to discuss receiving offers.