Following Twitter’s reconsideration of Elon Musk’s offer to acquire the micro-blogging platform, Twitter’s share price has increased by 5.3 percent.
The Spectator Index, a popular website that disseminates information and data about companies and markets, confirmed this on its official Twitter account.
“Twitter share price rises by 5.3 percent in premarket trading” Spectacular index tweeted.
Musk in April offered to buy the company at 54.20 per share at $43 billion, after buying a stake of 9.2 percent with the micro-blogging platform.
According to Bloomberg, an undisclosed source revealed that Twitter board made the move to negotiate with Musk on Sunday.
“Musk met with Twitter executives on Sunday, a person with knowledge of the matter said, a meaningful step that came days after the Tesla Inc. chief revealed a financing plan for the unsolicited bid that included backing from Morgan Stanley and other institutions.
“Twitter was generally more open to discussing a deal than it had previously been,” the person said, asking not to be identified discussing private information. Twitter shares gained as much as 2.8% in premarket trading,” Bloomberg stated.
Read also: Elon Musk continues to list agenda over Twitter acquisition bid
Gary Black, US-based investment adviser and Managing Partner, Future Funds LLC took to his official Twitter page to confirm that the Tesla boss is currently negotiating with the company.
“$TWTR is in discussions to sell itself to @elommusk and could finalize a deal as soon as this week, people familiar with the matter said. Board sentiment changed once Elon put his $46.5 Billion financing package on the table,” Gary tweeted.
He went further to slam those who were against Musk’s offer to buy the platform last week.
“Those who dismissed Elon’s plan to buy Twitter last week now look foolish as Twitter boards in advanced discussions with Elon Musk to come to a deal. Once Elon’s financing was disclosed, the board had no choice but to negotiate or Elon would have gone direct to SHs via a tender,” He tweeted.
Meanwhile, the news of the negotiation brought mixed reactions to the Twitter community.
Sapiens @AdvanceSapiens on Twitter said, “Twitter’s board has not been able to provide shareholders a consistent profit since the IPO and now Elon is offering those people an exit with profit. This in combination with the shared amount of public support has made sure that the board must make a deal.”
@pirateStyle7 tweeted that “the whole world stands with Elon Musk.”
