Twitter reconsidering Elon Musk’s $43 billion takeover bid

Social media giant, Twitter may be re-examining to take up the $43 billion bid by the world’s richest man, Elon Musk.

There is speculation that Twitter’s decision to reconsider Musk bid to takeover the company may be related to pressures coming from shareholders.

In a report by Wall Street Journal, the company is re-examining Musk’s takeover bid after the billionaire announced his financial capabilities of buying the company.

Sources revealed that the two sides met on Sunday to discuss the proposal, the business negotiations might however come with little disagreement as company executives could insist on Musk agreeing to monetary protections if the deal happens to be sealed.

Musk had offered to pay $43 billion to buy the social media platform. But Twitter has since then, disapproved of the proposal.

Street Journal quoted that Twitter is now “taking a fresh look” at Musk’s offer and is more likely to engage in negotiations.

Mr Musk is the world’s wealthiest person, according to Forbes, with a nearly $279 billion fortune. But much of his money is tied up in Tesla stock he owns about 17 per cent of the company, according to FactSet, which is valued at more than $1 trillion and SpaceX, his privately held space company.

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