Elon Musk’s offer to buy and privatize the company has been reconsidered by Twitter.
According to the Wall Street Journal, the meeting between the two sides discussed the offer made by the richest man in the world.
Elon Musk was valued at 54 54.20 a share of the social networking site and has offered to buy Twitter for a total of 43 43 billion.
Elon Musk, owner of Tesla, SpaceX and several other companies, has already bought more than 9% stake in Twitter.
Twitter had earlier adopted a bill protecting shareholders under US law to stop the sale of its shares in the stock market following the offer, after which the company’s shares could not be bought.
Now, the Wall Street Journal has reported that Twitter is more likely to reject the offer, and will discuss this in its quarterly report this week.
While Twitter may not necessarily accept the offer, it does suggest that Elon Musk could buy the company by offering more attractive offers.
Elon Musk also joined Twitter’s board of directors on April 5, 2022, as he bought about 10% of the company’s shares two days earlier and is still Twitter’s largest shareholder.
Also Read: Does Elon Musk Want To Buy Twitter?
Elon Musk has been the most criticized person on Twitter for the past few months and people have been demanding him to come up with a new social media platform compared to Twitter.
Elon Musk also hinted that he might introduce social media platforms, and now he has upset Twitter’s shareholders and board of directors by expressing a desire to buy Twitter.
Elon Musk has called for massive change on Twitter, calling it a politically biased platform.