Another buyer is reportedly working on a potential bid for Twitter as entrepreneur Elon Musk is trying to buy the entire company with a massive $43 billion bid.
“Private equity giant Thoma Bravo is working on a possible bid for Twitter … setting up what could be a rival to Elon Musk’s offer for the social giant,” the New York Post reported. “It’s not clear what Thoma Bravo might bid or when it would present the Twitter board with its bid. The firm has an internal team working on the potential transaction.”
One source told the Post that the company, which already owns other tech firms, was “making a push” to buy Twitter while a second source told the newspaper, “You are not far off.”
The news comes as another shareholder upped its stake in the company, knocking Musk off his perch as the company’s largest shareholder.
“Asset manager Vanguard Group recently upped its stake in the social-media platform and is now the company’s largest shareholder, bumping Mr. Musk out of the top spot,” The Wall Street Journal reported. “Vanguard disclosed on April 8 that it now owns 82.4 million shares of Twitter, or 10.3% of the company, according to the most recent publicly available filings with the U.S. Securities and Exchange Commission.”
This is an excerpt from The Daily Wire.
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