Main menu

Pages

Twitter's board of directors reverses its position and negotiates an agreement with Elon Musk

Twitter 's Board of Directors has changed its position and is already negotiating with the European Union. Elon Musk an agreement that would allow the founder of Tesla and the richest person in the world to take control of the social network, after he launched a takeover bid at $54.20 per share which represents a total of $43.4 billion.


Twitter's board of directors reverses its position and negotiates an agreement with Elon Musk


According to the Wall Street Journal, a deal between Twitter and Musk could be finalized as early as this week. The two sides negotiated over the weekend. and although they have not yet reached a final agreement, they have grown considerably closer.


"  I invested in Twitter because I believe in its potential as a platform for free speech around the world, and I believe that free speech is a social imperative for a functioning democracy," said Mr. Musk a few days ago.



“However, since investing, I have come to realize that the business will not be able to thrive or serve this social imperative in its current form. Twitter needs to go private ," he argued, concluding that "my offer is my best and final offer and if not accepted, I should reconsider my position as a shareholder."


Last week, Musk presented a financial plan for . $46.5 billion from the United States Securities and Exchange Commission. (SEC), supported by Morgan Stanley The Board therefore reconsidered its position.

Comments