Hollywood super agent
Emanuel contacted Twitter board member
Durban notified the Twitter board about the conversation, the people added. It is unclear if the social media company responded to Emanuel, or intends to do so, they said.
Whether Emanuel is operating at the behest of Musk or is trying to resolve a high-stakes dispute involving two allies is a question investors will likely pore over. Bloomberg was unable to ascertain details about his motives as well as the likelihood of his overture leading to any settlement.
Twitter has said repeatedly that it plans to enforce the merger agreement in court, and that the company believes it has a strong case to force Musk to pay the full $54.20 per share. The company has little incentive to settle the case early for a substantial discount, especially because it could open up Twitter’s board of directors to possible shareholder lawsuits.
Representatives for Emanuel and Twitter declined to comment. A representative for Musk didn’t immediately respond to a request for comment.
The attempted mediation by one of the entertainment world’s ultimate power brokers marks an unlikely twist in a takeover fight that has captivated Wall Street as well as the tech and legal worlds.
After agreeing to acquire Twitter in April, Musk developed misgivings about the company and has sought to quit the deal. Twitter has sued Musk to complete the transaction and the parties are
The judge must decide whether the world’s richest person had legitimate grounds for walking away from the deal. At the center of Musk’s defense are the company’s disclosures about the quality of its customer base as it is affected by spam and automated accounts.
Emanuel has close ties to both Musk and Durban. Durban sits on the board of directors at
Twitter rose 2.8% to $43.95 at 2:08 p.m. in New York trading Friday, giving the company a market value of about $34 billion.
(Updates trading in final paragraph)
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