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The New York Post: Elon Musk considering bringing in partners on Twitter bid, sources say

Elon Musk is speaking to investors who could partner with him on a bid for Twitter, sources close to the matter told The Post.

A new plan that includes partners could be announced within days, those sources said.

One possibility, the sources said: teaming with private-equity firm Silver Lake Partners, which was planning to co-invest with him in 2018 when he was considering taking Tesla private.

Silver Lake’s Co-CEO Egon Durban is a Twitter board member and led Musk’s deal team during the 2018 failed effort to take Tesla private, sources said. Silver Lake declined to comment.

Whether Musk would present Twitter with an entirely new offer — perhaps raising his current bid — or whether new partners would simply go in on a purchase with him isn’t clear. A Musk spokesperson declined to comment.

For its part, Twitter on Friday adopted a so-called poison bill plan — a corporate move that prevents Musk from acquiring more than 15% of the company.

But that pill may not stop other entities or people from acquiring their own shares of up to 15% of the company. Those owners could partner with Musk to force a sale, make changes in the executive ranks or push for other overhauls of the company.

Twitter hasn’t yet filed its shareholder rights plan with the SEC, though it announced the poison pill in a statement. The SEC filing will give more details on whether it prevents like-minded investors from teaming to buy a greater than 15% stake.

“This is not over,” a source close to the situation said.

Musk has announced he presently owns 9.1% of Twitter. He offered Thursday to buy Twitter for $54.20 a share. Shares last traded at $45.08 each, as there is skepticism that he will succeed with his current take-it-or-leave-it proposal.

Saudi Arabian investor Prince Alwaleed bin Talal said on Thursday that, as one of the major shareholders in Twitter, he rejected the proposed takeover bid.

Meanwhile, Twitter may have options besides just saying no.

Private-equity firm Thoma Bravo told Twitter it is studying the possibility of making a rival offer for the company, Bloomberg and Reuters reported on Friday, citing sources familiar. This comes after The Post reported exclusively Thursday that Thoma Bravo was considering a Twitter bid.

This article was first published on NYPost.com

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