Billionaire entrepreneur Elon Musk offered to buy Twitter for $43 billion ten days ago. Now it seems like Musk is supposedly going to meet the executives of the social-media company this weekend to discuss his takeover bid.
According to The Wall Street Journal, both parties will come together on Sunday, 24th April 2022.
On April 1st, the world’s richest person announced that he is willing to pay $54.20 in cash for every share he does not own. This is said to be 38% above the price value.
Nevertheless, fewer changes were seen in the agency’s shares in New York City on Thursday which remained at $45.81. This however was seen as a sign by many people that Musk will eventually succeed in his takeover of Twitter.
Here’s everything you need to know
Elon Musk is in talks with Twitter for the takeover proposal
As per the reports by The Wall Street Journal, Twitter is willing to negotiate a deal with Musk. At the very least they are open to listening to Musk and considering a final price bid for the Twitter takeover.
The Tesla and SpaceX founder however has previously stated that he won’t budge on $54.20 per share.
The Wall Street Journal future mentions that Twitter executives are presently reflecting on several things. They are mulling over the final valuation of Twitter’s worth as well as the potential of inviting other bidders.
According to Reuters, in the past week Musk met with some of the biggest Twitter shareholders to pitch his deal on why the social media app would be better when he’s in charge.
The 50-year-old businessman reportedly wants to change a few things when he takes over Twitter. For instance, he will allow for longer tweets as well as an option to pivot advertisements.
The outlet further states that few Twitter shareholders expressed the idea to talk it out with Musk. They also shared that they will try to get a larger offer from Musk.
Regardless, time will tell whether Musk is receptive to spending a few more millions or billions to take Twitter private.
The biggest shareholder of Twitter may also have implied that he is over the takeover when he tweeted “Moving on” Sunday. However, Musk later elaborated that he was teasing Bill Gates on climate change.
Twitter will reportedly have an earnings call this Thursday. They will most likely discuss Musk’s bid. The odds of Musk taking over Twitter are getting real with each passing day.