- Representatives of Musk reportedly had private discussions with Twitter, according to the NYT.
- Discussions centered on the price of the platform, with Musk’s team apparently seeking a discount.
- They had asked for a 30% discount but Twitter denied the request, according to the NYT.
Elon Musk reportedly sought a lower price for Twitter before relaunching his initial bid of $44 billion.
The New York Times reported the news.
In recent weeks, representatives of Musk have reportedly held private discussions with Twitter about the price of the social media platform, sources told The New York Times.
Musk’s team originally asked for a 30% price cut, according to three unnamed people familiar with the talks. The discount would have valued the company at around $31 billion.
Twitter rejected the offer and talks shifted to a 10% price cut, according to the NYT. Those talks also fell through, prompting Musk to relaunch his $54.20 per share bid, which he originally made in April, according to the NYT.
Representatives for Elon Musk did not immediately respond to Insider’s request for comment made outside of normal working hours.
On October 4, Musk filed a letter with the SEC offering to pay $44 billion for the social media platform. Twitter has confirmed its intention to complete the deal at this price.
“We have received the letter from the Musk parties that they filed with the SEC,” a Twitter spokesperson told Insider on Tuesday. “The Company’s intention is to close the transaction at $54.20 per share.”
Twitter representatives did not immediately respond to Insider’s request for comment on the talks.
In a recent TweeterMusk claimed the purchase would speed up the creation of X, his long-talked-about “all-purpose app.”