Twitter more open to Elon Musk’s buyout proposal
Musk’s announcement that he had enough money to buy Twitter was the turning point for this social network purchase.
The New York Times quoted a source close to Twitter as saying that the Twitter Board of Directors met on April 24 to discuss Recommend repurchase worth $ 46.5 billion of Tesla CEO Elon Musk, after this billionaire announced raised enough money. Musk’s financial arrangement was the turning point of the deal, helping the Twitter board to change its opinion on Musk’s offer and seriously consider it, the source confirmed.
The Twitter board also plans to meet Musk on the same day to discuss the acquisition. The details to be discussed are the timelines to complete the contract (if any), and the fees if the agreement is signed but later falls apart.
Of course, it’s too early to say about the certainty of this deal. However, the Twitter Being more open to Musk is a step forward for the richest person in the world.
Musk started buying Twitter shares earlier this year and announced plans to buy the social network on April 14. He asserted his purpose It’s not about making moneybut to ensure Twitter is a trusted platform for democracy.
Wall Street initially doubted Musk’s ability to raise enough money to buy Twitter. The social network also implemented a strategy to prevent the world’s richest person from buying more shares.
Musk then aggressively borrowed money and last week announced it had enough. The NYT source revealed that the situation is much better now than it was initially, progressing quite quickly and smoothly. In the latest announcement, Twitter said, “The Board of Directors is continuing to review and evaluate carefully and comprehensively to make the best decision for the company and shareholders”.
Ha Thu (according to NYT)
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