Twitter is allegedly considering reconsidering Elon Musk‘s initial bid to buy the social media business and take it private. The proposal is presently valued at $43 billion, and it will hand over control of the entire corporation to the multi-tech CEO of Tesla, SpaceX, Neuralink, and other companies.
There were initial arguments among other stockholders and board members, but reports on its sale for the executive are now spreading.
Twitter to Review Elon Musk’s Bid on Social Media Sale for $43 B
The Wall Street Journal reports that Twitter will review the bid of Elon Musk on Twitter, despite the company not going on a sale to sell out its rights and entirety. The reports center on reconsidering the offer, looking into the benefits, and talking about it with the tech CEO and the world’s top billionaire interested in making it private.
Musk initially said that its reason for making it private was to bring back freedom of speech, but it received many speculations and questions about what it means for press freedom on the platform. The sale would take a whopping $43 billion from the company, and this is the first bid that its board members initially turned down from the CEO.
Is it a Good Deal for Twitter to Take? Going Private an Option?
Nothing is certain for now, and there are no decisions yet from Twitter, but reviewing the offer of Elon Musk is a massive indication that there are particular interests in this sale. Twitter was once a private company that filed for a public listing in the market, and going private again will be a massive move for the company.
According to Engadget, the company’s deliberation and review this week will say more about its future.
Elon Musk and Twitter
In the past weeks, it has been a whirlwind for Twitter’s company, board members, investors, employees, and its users as Musk presented his interest in taking over social media. There is much controversial information from the tech CEO, and one of it is the removal of the salaries of the company’s board members once the sale pushes through.
Musk is looking into changing a lot for the social media company if the sale succeeds and pushes to his ownership after buying its entirety. It would also mean that he could do whatever he wants with it, as it will be a private company that will no longer have other’s interests in its online presence.
The Tesla CEO initially hinted about social media policies, especially with freedom of speech being the central issue here.
Twitter and Elon Musk have a long history together. The tech CEO relies on social media to market most of the companies he owns or serves as its chief executive. For now, the world is waiting on Twitter and its deliberations, especially with its decision on the bid by the executive, now that the reports point out their reconsideration on its sale.
Source: Techtimes