Twitter's biggest shareholder and the world's richest man Elon Musk is allegedly speaking to other investors to partner up with him on Twitter.
According to the New York Post, he could be teaming up with Silver Lake Partners, the firm that planned to go in with him on investment back in 2018 when the whole Tesla going private debacle was going on. Sources say that he could announce partners in the upcoming days.
Egon Durban, the company's CEO, is a member of the Twitter board of directors.
As you may recall, the billionaire agitated Twitter's free speech restrictions by conducting a poll on the network, then stated that he was considering starting his own social media platform shortly before making an offer to buy Twitter's stock.
Another majority stakeholder, Prince Alwaleed bin Talal, is opposed to the takeover.
Musk's share purchase, which made him the majority stakeholder, stipulated that he could not possess more than 15% of the social networking site on his own. That condition, however, does not apply if he unites with other shareholders to increase his 15% stake.
According to the New York Post, Twitter has not filed a shareholder rights plan with the US Securities and Exchange Commission, which would provide details regarding the "Poison Pill" joint shareholder ownership option.
It's probable that Elon will make a new offer to the Twitter board of directors.
Musk announced that he now controls 9.1% of Twitter. Tesla and Space X creator Elon Musk recently stated that he would be prepared to buy Twitter for $54.20 per share. The media mogul's stock is now trading at 45.80 per share, and he appears to be offering a take-it-or-leave-it scenario.
So far, Saudi Arabian businessman Prince Alwaleed bin Talal, who is also a big shareholder in Twitter, has said no to the plan. The corporation has yet to reveal what alternative choices are available to them.
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