According to multiple media reports, Twitter’s (TWTR) board of directors is reconsidering Elon
Musk’s offer to buy the publicly traded social media company and take it private.
Twitter’s board members met on Sunday (April 24) to discuss Musk’s proposed bid, according to
several media reports. The board meeting came after Musk disclosed that he has secured $46.5
billion U.S. in financing to acquire Twitter.
Twitter’s board is reportedly looking for other offers and the company could provide an update
by the time it reports its first quarter financial results this Thursday (April 28).
The Wall Street Journal newspaper reported over the weekend that Twitter executives are re-
examining Musk’s bid and are more likely than before to try and negotiate with the billionaire.
Musk, who is the chief executive officer (CEO) of electric vehicle maker Tesla (TSLA) has
offered to buy Twitter for $43 billion U.S. and take the company private.
The social media company had been expected to shoot down the offer and had adopted a so-
called “poison pill” to fend off a potential hostile takeover.
Twitter’s board is still working on estimating its own value. Executives could insist on
guarantees, such as Musk covering break-up protections should the deal fall through.
Musk has insisted publicly that his offer to acquire Twitter is his best and final offer.
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