Mark Cuban, a billionaire investor, said on Thursday that the offer by Musk to take the company private has set off a search by big tech firms for the social media app.
In a message to his 8.6 million followers, Cuban said that every major tech company is on the phone with their anti trust lawyers asking if they can buy Twitter and get it approved.
The TV star and Dallas Mavericks owner said that he was going to be interesting after Musk's $43 billion. The boss of the company decided not to join the board after becoming the largest stockholder.
Musk has been vocal about changes he would like to see at the company. Musk has criticized the social network for banning the former US president because he views it as an attack on free speech.
The issue of free speech is at the center of the battle between Musk and the SEC. Musk asked a federal judge to throw out the agreement he made with the SEC that requires him to vet many of his statements.
Cuban said that he thought that the SEC allowed him to say he wanted to take a company private for $54.20. Funding secured, the price will go up. His shares are sold. The profit SEC just happened.
During the session, shares of the social media company soared by more than 10%, but then fell to trade below $46 a share. If he succeeds in his bid of $54.20 a share, Musk will "unlock" the company.
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