After Elon Musk put his money where his mouth was, Twitter officials met with the Tesla CEO to discuss allowing him to purchase the company, according to the Wall Street Journal.
Twitter officials and Musk met on Sunday to discuss the proposed $46.5 billion deal many assumed the Big Tech company already rejected. Musk made waves on Sunday morning, tweeting out a cryptic message about “moving on” that turned out to have nothing to do with his bid to take over the social media giant.
ELON MUSK SENDS CRYPTIC ‘MOVING ON’ TWEET
Sources told the Wall Street Journal that Twitter executives were still trying to figure out how much the company is worth before pulling the trigger on any kind of deal with Musk. Twitter will report its first-quarter earnings on Thursday, and people said it is expected to have more to say about the deal then.
In a filing with the Securities and Exchange Commission last week, Musk said he was exploring a tender offer to purchase outstanding Twitter shares of stock at $54.20 per share — a number he reportedly told Twitter Chairman Bret Taylor he isn’t planning to budge from. Musk claimed he secured $46.5 billion in financing to purchase the shares.
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Musk’s tender offer came after the board didn’t respond to an initial $43 billion offer from the world’s richest man to take the company private. While the board didn’t accept or reject Musk’s initial offer, members did make it more difficult for him by adopting a “poison pill” that would flood the market with new shares if he tried to buy up a certain percentage of available shares.
