Twitter shares rose last night as the battle over the future of the social media site intensified. Musk stunned both Wall Street and Silicon Valley last week when he swooped on the social media group with a £31billion takeover offer. Twitter’s board hit back at the $54.20 a share offer and the company launched a major defence on Friday. In response to another tweet which discussed how Twitter board members receive up to £230,000 a year for a ‘part-time’ job, Musk said: ‘Board salary will be $0 if my bid succeeds.’He added that cutting those payments could save the company around £2million a year. The indication that he is considering a tender offer follows a defence strategy deployed by the board to thwart his efforts.

Source: Daily Mail April 19, 2022 07:42 UTC