Twitter was evaluating the offer with guidance from Goldman Sachs (NYSE: ) and Wilson Sonsini Goodrich & Rosati, according to a source. Describing himself as one of the "largest & long-term shareholders of Twitter," he said Musk's offer undervalued the company and he rejected it. White House spokesperson Karine Jean-Pierre declined to comment on Musk's offer for Twitter, saying that market regulators operate independently from political leadership. Chief Executive Officer Parag Agrawal reassured them that the company was not being "held hostage" by news of Musk's offer to buy the company, according to a source. Asked if there was a "Plan B" if Twitter rejected the offer, Musk told the TED conference audience without elaborating: "There is."

Source: New York Times April 15, 2022 14:36 UTC