Media: Twitter revisits Elon Musk’s takeover bid

The Twitter leadership has shifted its stance on Elon Musk’s bid to acquire the social network. The story is reported by The Wall Street Journal, The New York Times, and CNBC citing sources.

According to the channel, Twitter’s leadership may unveil a final decision by Thursday — the day on which the company will publish first-quarter results.

The newspapers report that the parties met on April 24. The alleged reason for revising the stance was документы for the SEC regarding the billionaire’s $46.5 billion financing.

The papers report that on April 25 the company’s board discussed with Musk “additional details, including the closing date of the deal.” According to journalists, the decision is not final, and the entrepreneur’s offer may not be accepted. In this context, the parties allegedly discussed the question of expense reimbursement — to be paid by the head of Tesla if the parties do not reach an agreement.

Earlier, Musk acquiring 9.2% of the shares for $2.89 billion made him Twitter’s largest shareholder. He proposed lowering the price of Twitter Blue andadding Dogecoin as a payment option.

On April 14, Musk proposed to acquire the social network for more than $43 billion. He said this was with the aim of creating an “inclusive arena for freedom of speech”, rather than a desire to make money.

The Twitter management did not entertain the offer and approved a plan to defend against a takeover. It позволяет shareholders to buy additional shares at a discount should any entity or individual acquire 15% of the company’s stock without board approval.

Musk’s “favourite cryptocurrency”—Dogecoin—reacted positively to rumours of a consensus in talks to buy Twitter. According to CoinGecko, in the last hour it rose by 7.5%.

Twitter shares rose more than 5% in premarket trading.

Ethereum co-founder Vitalik Buterin supported Musk’s Twitter takeover, but questioned the overall positive effect of the platform’s move into billionaire ownership.

CEO discuss with the head of Tesla the possibility of interaction between the social network and a bitcoin exchange.

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