Breaking: Elon Musk Gathers Twitter Shareholders’ Trust, Forces Twitter to Renegotiate
As per sources, Twitter has once again started fresh negotiations with billionaire Elon Musk on Sunday, April 24, for a complete takeover of the company. In recent days, Musk has managed to woo Twitter (NYSE: TWTR) shareholders who have thrown their weight backing the billionaire for a $43 billion takeover offer.
Last Thursday, Elon Musk outlined a detailed financing plan for the Twitter takeover. He said that Twitter needs to be taken private to make it a genuine and trusted platform for free speech. Musk has put a bid offer at $54.20 per TWTR stock which is currently trading at $48.0.
Sources familiar with the matter said: “Twitter is taking a fresh look at the offer and is more likely than before to seek to negotiate”. Citing sources familiar with the matter, WSJ reported:
“Mr. Musk met privately Friday with several shareholders of the company to extol the virtues of his proposal while repeating that the board has a “yes-or-no” decision to make”. He further “”pledged to solve the free-speech issues he sees as plaguing the platform and the country more broadly, whether his bid succeeds or not”.
Musk also reached out to some select shareholders of Twitter in a series of video calls while focusing on the actively managed funds.
Elon Musk’s War With Twitter
After Elon Musk made a bid for a complete takeover, social media giant Twitter decided to adopt the “poison pill”. The goal was to prevent Musk from raising more than a 9% stake in the company. However, Musk launched a tender offer while garnering shareholders’ support for this bid.
However, some of the existing shareholders of Twitter have argued that the proposed bid by Musk is below the intrinsic value of the company. But sources said that Musk can increase his bid in that case! One of the fund managers who has invested in Twitter said:
“I wouldn’t be surprised to wake up next week and see Musk raise what he called his best and final offer to possibly $64.20 per share”.
Earlier, Elon Musk proposed some changes with a paid subscription model for Twitter Blue services to control the bot army. He even proposed Dogecoin payments for this subscription.
- Cyber Hornet Seeks SEC Nod for S&P 500 and XRP ETF
- Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation
- Kraken Secures $500M at $15B Valuation, Eyes IPO in 2026
- Bybit Lists Ripple’s RLUSD Following BlackRock and VanEck Integration
- SWIFT Plans Stablecoin and On-Chain Messaging Pilot on Linea, Challenging Ripple
- Solana Price Set for Q4 Surge as Canary Capital ETF Filing Meets Wyckoff Accumulation
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
