Twitter In talks With Elon Musk Over Bid to Purchase Platform – Billboard


Twitter’s board and Tesla CEO Elon Musk negotiated into the early hours of Monday (April 25) over his bid to purchase the social media platform, The New York Instances reported.

Musk stated final week that he had lined up $46.5 billion in financing to purchase Twitter, placing stress on the corporate’s board to barter a deal.

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The Instances, citing individuals with data of the scenario who it didn’t establish, stated the 2 sides have been discussing particulars together with a timeline and costs if an settlement was signed after which fell aside. The individuals stated the scenario was fluid and fast-moving.

Twitter had enacted an anti-takeover measure often known as a poison capsule that might make a takeover try prohibitively costly. However the board determined to barter after Musk up to date his proposal to point out he had secured financing, based on The Wall Road Journal, which was first to report the negotiations have been underway.

Final week, he stated in paperwork filed with U.S. securities regulators that the cash would come from Morgan Stanley and different banks, a few of it secured by his big stake within the electrical automotive maker.

Twitter has not commented.

Musk has stated he needs to purchase Twitter as a result of he doesn’t really feel it’s dwelling as much as its potential as a platform totally free speech.

In latest weeks, he has voiced quite a few proposed adjustments for the corporate, from stress-free its content material restrictions — reminiscent of the principles that suspended former President Donald Trump’s account — to ridding the platform of its issues with faux and automatic accounts.

Musk is the world’s wealthiest particular person, based on Forbes, with a virtually $279 billion fortune. However a lot of his cash is tied up in Tesla inventory — he owns about 17% of the corporate, based on FactSet, which is valued at greater than $1 trillion — and SpaceX, his privately held area firm. It’s unclear how a lot money Musk has.





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Twitter’s board and Tesla CEO Elon Musk negotiated into the early hours of Monday (April 25) over his bid to purchase the social media platform, The New York Instances reported. Musk stated final week that he had lined up $46.5 billion in financing to purchase Twitter, placing stress on the corporate’s board to barter a…

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