In what could be a pivotal battle in the war to preserve free speech, Elon Musk is reportedly engaging in discussions with investors who could be positioned to join his quest to purchase social media giant Twitter, as the Daily Wire reports.
Speculation about such a move grew last week after Musk’s initial bid to pay $54.20 per Twitter share was – at least for now – thwarted by the company’s board of directors.
Twitter’s directors adopted a so-called “poison pill” approach to get in the way of Musk’s attempted hostile takeover by passing a shareholder rights plan permitting board members to buy discounted stock anytime a single individual or entity amasses at least 15% of the company’s stock.
As the Daily Wire reported separately, the move by Twitter’s directors “is an unmistakable signal that the board is not interested in the prospective hostile acquiror, despite a potential profit for shareholders.”
It remains unclear with whom Musk may be teaming up to take another shot at acquiring Twitter, but some sources believe that Silver Lake Partners – a firm with whom he has prior ties – may be a leading contender.
The Co-CEO of Silver Lake Partners is Egon Durban, a current Twitter board member and the leader of the deal team enlisted by Musk in a 2018 attempt to take his Tesla electric car company private – an endeavor which ultimately failed.
It does not come as a surprise that Musk may indeed be several steps ahead of his adversaries at Twitter, given that he revealed last week during an interview at TED2022 that if the board attempted to block his initial bid, he had a “Plan B” in mind, as Fox Business noted at the time.
Regardless of the planning, wealth, or business savvy Musk brings to bear, venture capitalist David Sacks remarked on Twitter this weekend that there may be forces arrayed against the entrepreneur that is too much even for him to overcome.
“If the game is fair, Elon will buy Twitter,” said Sacks. “If the game is rigged, there will be some reason why he won’t be able to. We’re about to find out how deep the corruption goes.” In response, Musk said simply, “Indeed,” leaving palpable suspense in the air as the world waits and watches what happens next.