Ari Emanuel, the CEO of Endeavor and a Hollywood super-agent, is said to have tried to help Elon Musk and Twitter’s board of directors reach a deal to end their heated legal battle over a failed $44 billion takeover.
A report released on Friday said that Emanuel, who was seen partying with a shirtless Musk on a yacht off Mykonos this summer, contacted Twitter board member Egon Durban in the last few weeks to suggest that the two sides settle their case before it goes to trial. Bloomberg said that people familiar with the situation said that Durban told Twitter’s other board members about his talks with Emanuel.
Twitter refused to say anything. The Post called Musk’s team, but they didn’t answer right away. The Post also asked Endeavor what they thought about the report. Friday evening, Twitter’s stock went up about 3% to about $44 per share.
Bloomberg says that it’s not clear why Emanuel got involved in the high-stakes legal battle or if his efforts led to any progress toward a settlement. Emanuel is very close to Durban, who is also a member of the board of directors for Endeavor Group Holdings. Musk was on the board of Endeavor until earlier this year when he quit.
In July, photos of Elon Musk hanging out with Emanuel and his wife Sarah Staudinger on the luxury yacht caused a stir. Photos of the friends on vacation led to a lot of memes, and Musk even said it was time for him to get back into shape. Emanuel’s shady moves came to light just a few weeks before the much-anticipated trial started on Oct. 17.
A hedge fund manager who has been following the case closely told The Post, “It makes me think Elon doesn’t have some kind of great ace for the trial.” “I have to think Ari isn’t going off the rails here.”
Twitter is trying to get a court order that would force Musk to buy Twitter for $54.20 per share, which would be about $44 billion.
Musk, on the other hand, is trying to get out of the whole deal. His legal team has said that they are worried about spam bots among Twitter’s users and that company representatives are hiding important information about this problem.