Tesla and SpaceX CEO Elon Musk in Tesla’s “Gigafactory” on March 22, 2022 in Grünheide, south-east of Berlin.
Patrick Pleul | AFP | Getty Images
Elon Musk is considering whether to make a takeover bid for Twitter, a new securities filing shows.
In an updated filing released Thursday, Musk said that given the lack of response from Twitter’s executive board, he is now reviewing a bid to buy some or all of the company’s stock directly from its shareholders. The filing said Musk received $46.5 billion in pledges to help fund the potential deal.
Musk has not yet decided whether he will make a takeover bid for Twitter or whether he will take other steps to advance the proposal, the filing said.
Last week, Musk offered to buy Twitter for $54.20 a share, or about $43 billion. On Friday, Twitter passed a limited-duration shareholder rights plan, often referred to as a “poison pill,” to stave off a potential hostile takeover.
Musk, CEO of Tesla and SpaceX, has acquired a more than 9% stake in the company in recent weeks. Twitter then made Musk an offer to join the board, but on the condition that Musk couldn’t buy more than 14.9% of the company. Musk reversed course and instead offered to take Twitter private.
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