(Republican Party News) – Elon Musk is determined to take over social media giant Twitter and according to a recent report from sources with insider knowledge, he’s getting closer and closer.
Twitter thus far has refused to hear Musk’s initial offer but new reports indicate that they company just might be coming around.
Musk announced he had acquired $46.5 billion in financing for his bid for the company last week. This prompted Twitter to decide to take “a fresh look at the offer” and is now “more likely than before to seek to negotiate,” multiple sources told the Wall Street Journal.
“Twitter is still working on an all-important estimate of its own value, which would need to come in close to Mr. Musk’s offer, and it could also insist on sweeteners such as Mr. Musk agreeing to cover breakup protections should the deal fall apart,” the Wall Street Journal reported.
The report claims the two sides have agreed to meet on Sunday to discuss Musk’s current proposal. The Wall Street Journal’s sources also say whether or not the deal goes through, Musk will remain a key part in the company’s dealings going forward.
Musk met privately with “several” Twitter shareholders Friday. During the meeting he “pledged to solve the free-speech issues he sees as plaguing the platform … whether his bid succeeds or not,” the sources said.
The Western Journal has the insight of Aron Solomon, the chief legal analyst for Esquire Digital who has correctly predicted Musk’s moves thus far.
Three days before Musk announced his initial offer to buy up to 100 percent of the company’s shares, Solomon predicted he would do so “within days.”
Solomon also predicted that this process would not be drawn out over a long period of time. He believes Musk needs to act quickly, within days or weeks, in order to maintain leverage using the news cycle.
“Like Elon Musk or not, one thing that we know is that he’s able to take things from zero to 60 very quickly, whether it’s SpaceX or Tesla or anything that he wants to do,” Solomon told The Western Journal.
Now that Twitter is willing to “negotiate” seems moot given that Musk has previously stated his initial offer would be his final offer. Solomon says Musk was planning to up his offer all along.
In an email to The Western Journal on Tuesday, Solomon wrote that the plan will likely involve Musk upping his offer to investors from $54.20 per share — a 54 percent premium over the share price the day before Musk began investing in the company — to $60-$61 per share.
Musk seems to know he’s got the upper hand. In recent days, he’s become increasingly antagonistic towards Twitter board members. Solomon claims it’s giving Musk a huge advantage.
“This is a key. Elon Musk as the white knight. Between this positioning and compelling second offer, it might be too much to turn down,” Solomon wrote in the email.
“Essentially, if Elon Musk wants Twitter badly enough it’s going to be extremely hard to stop him from acquiring it.”
Where there’s a will, there’s a way and Elon Musk is proving that.
His acquisition of Twitter will only benefit the US and our political climate.
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