Twitter has hired Goldman Sachs and JPMorgan Chase, the latter of which has sparred previously with Musk over the valuation of millions of dollars in Tesla stock warrants
The stock rose 3.8% to $46.78 at 1:00 p.m. in New York.
Musk tweeted an Elvis Presley song, a day after Twitter Inc adopted a 'poison pill' to protect itself from the billionaire's $43-bn cash offer to buy the social media company
Dorsey, who left Twitter in November last year -- handing over the baton to Indian-origin Parag Agrawal -- remains a board member until next month with his 2.2% share
Musk, during an interview Thursday at the TED 2022 conference, said he had the funding to take Tesla private in 2018
The Tesla CEO has offered $43.4 bn to purchase Twitter. But what if Elon Musk manages to acquire the microblogging platform? How will it shape his ties with India? And also that of Twitter?
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Musk was responding to a tweet about board members' stock holdings, saying that with the departure of Jack Dorsey, the board "collectively owns almost no shares."
If he should become Twitter's owner, Musk said he would scrap the current program of content monitoring and censoring
Taking Twitter private will not help free speech
Musk said that Tesla believed that the usage amongst owners was too low to justify supplying the cable with every new car delivery
Earlier, Musk demanded an Edit button, and the micro-blogging platform announced that it is working on such feature that will allow users to correct errors in their tweets, albeit with some rules
Musk still remains the largest individual shareholder
Twitter is trying to thwart billionaire Elon Musk's takeover attempt with a poison pill" - a financial device that companies have been wielding against unwelcome suitors for decades.
As Twitter adopts the 'poison pill' strategy to stop Elon Musk from forcefully buying it, the Tesla CEO is reportedly speaking to investors who could partner with him on acquiring the platform
Twitter users want Tesla CEO Elon Musk to acquire Sri Lanka instead of the microblogging site for $43 billion, as the country faces its worst economic crisis since its Independence.
Besides Musk's offer, Twitter has been fielding takeover interest from other parties
Twitter has announced that its Board of Directors has unanimously adopted a limited duration shareholder rights plan following an unsolicited, non-binding proposal to acquire Twitter by Elon Musk
Twitter Chief Executive Officer Parag Agrawal told staff that the board was continuing to review Musk's offer, but that he was limited in what he could share with the employees
Investment bankers, investors and analysts said he needed a blowout bid and more details on his financing for this strategy to work