Skip to main content

Report: Twitter Engages in Negotiations With Elon Musk, Analyst Says Unless a Second Bidder Appears Musk Will Acquire the Company

According to multiple reports stemming from people familiar with the matter, Twitter has been engaged in negotiations with Elon Musk over his proposal to purchase the social media platform for $46.5 billion. Sources detail that a number of Twitter shareholders allegedly reached out to the company’s board after Musk detailed his financing plans last week.

Reports Say Elon Musk Could Acquire Twitter by the End of the Day

Three days ago, Bitcoin.com News reported on Elon Musk’s plans to improve Twitter which include removing spam bots and making sure free speech is allowed. Musk further detailed that he wants to make the account verification process easier. However, before Musk outlined his improvements and plans to secure the $46.5 billion needed for the acquisition, Twitter’s board implemented a “poison pill” plan to avoid the acquisition.

Essentially, Twitter executed a shareholder rights plan in order to dilute the appeal of a takeover. The measure attempts to make it harder for Musk to acquire the company unless he increases his shareholder stake. Despite the poison pill plan and the backlash from a number of people against Musk taking over, three reports note that Twitter’s management is contemplating Musk’s offer now.

Bloomberg, the Wall Street Journal (WSJ), and the New York Times (NYT) have all reported that people familiar with the matter say Twitter’s board is now engaging in negotiations with the Tesla executive. According to the reports, Twitter’s board is interested in any ongoing regulatory investigations tethered to Musk and his companies and whether or not any investigations could impede the deal.

Sources Say Musk ‘Remains Fluid and Fast-Moving,’ Analyst Believes Musk Will Takeover Unless a Second Bidder Appears

Furthermore, Twitter’s board is interested in the opinions of U.S. regulators and bureaucrats that may object to Musk’s takeover. The New York Times reports that the agreement is not final and there’s definitely a chance it won’t work. However, people with knowledge of the situation said “Mr. Musk remains fluid and fast-moving.”

Musk is reportedly working with Morgan Stanley in order to acquire debt financing and he allegedly has $21 billion in cash reserves to leverage as well. On Sunday, an analyst at Wedbush Securities, Dan Ives, said he believes Musk’s goal to own Twitter may be successful. In an investor’s note published this weekend, Ives said:

[This is] the beginning of the end for Twitter as a public company with Musk likely now on a path to acquire the company unless a second bidder comes into the mix.

Last week, Musk also talked about Twitter integrating dogecoin (DOGE) and that it could possibly be a payment option for Twitter’s Blue service. While most crypto assets have been in the red on Monday recording declines in fiat value, DOGE has jumped 6.24% during the last 24 hours since the news about Twitter engaging with Musk in negotiations went public.

What do you think about Twitter engaging with Elon Musk in regard to his offer to purchase Twitter for $46.5 billion? What do you think about Elon Musk owning Twitter? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/WjNO9x1
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more