|Musk and Twitter to meet to discuss acquisition|
Twitter begins talks with Elon Musk under shareholder pressure. Tesla bosses have wooed some of the social media company's shareholders with financing details on their $43 billion takeover bid. Reuters reported, citing sources stating that the company's decision to engage with Musk on Sunday did not mean it would accept his offer of $54.20 per share.
Musk has been meeting with Twitter shareholders over the past few days, seeking support for his proposal. And much of this will urge companies not to miss the opportunity for a deal. The Twitter board, the same source said, therefore decided to engage with Musk to gather more information about his ability to complete the deal, and try to get better terms.
Twitter has not yet decided whether to consider a sale to pressure Musk and encourage him to increase his bid. The company wants to learn more about the ongoing regulatory investigations into Musk, including the SEC, that would pose a risk to finalizing the deal. Twitter is also trying to find out if regulators in one of the key markets in which it operates will oppose Musk's acquisition.
The Wall Street Journal previously reported that Musk and Twitter would meet to discuss the proposed acquisition and that the social media company was reviewing the offer. Twitter is examining the offer again, the business newspaper wrote, stressing that "it is more likely than ever that it will try to negotiate."
According to sources quoted by the newspaper, "the potential reversal of Twitter comes after Mr Musk met privately with some of the company's shareholders on Friday." The billionaire also "promised to find a solution to the problem of free speech, whether his offer was accepted or not".
Elon Musk says he wants to make Twitter "the world's platform for free speech".
According to the same source, Twitter could make a statement on Thursday when it releases its first-quarter results, or even earlier, a response that "could open the door to another offer or to negotiate with Musk on terms other than price." Musk, according to the WSJ, also "made it clear in recent days to Twitter president Bret Taylor that he would not be moving away from his offer of $54.20 per share" made on April 14.