Twitter company may become more receptive to Elon Musk’s takeover offer after the billionaire announced. That he had secured $46.5 billion in funding.
The social media Twitter company should have turned down the offer and have taken the so-called poison pill to prevent a possible hostile takeover.
A Twitter executive met Sunday to discuss Musk’s funding plans for his bid, sources familiar with the situation told news. The man said the board is looking at other offerings and the company could provide updates until it reports its latest financial results on Thursday, if not sooner.
Earlier, The Wall Street Journal reported that Twitter executives were reviewing the offer. And were more likely to try to negotiate than before. The situation developed rapidly, but the two sides met Sunday to discuss Musk’s $43 billion proposal, the Journal reported.
A Twitter company spokesperson rejected to comment on the report.
The newspaper reports that the social media giant is still working on its own assessment. Executives could also push for insurers like Musk’s to include damage protection if the deal fails, the Journal reports.
Musk reportedly said he would not deviate from his original offer.