Washington, Apr 25:
Twitter’s board reportedly met billionaire businessman Elon Musk to explore his $43 billion takeover offer to the social media platform.
The development followed after the Tesla CEO first revealed his bid to buy the social media giant.
US newspaper the Wall Street Journal citing sources on Sunday reported the “two sides are meeting,” signaling that “the social-media company could be more receptive to a deal”.
“Twitter is taking a fresh look at the offer and is more likely than before to seek to negotiate,” the report said, adding that the situation is fast-moving.
Twitter is yet to comment on the reports.
According to international media reports, details of how Musk intended to finance his offer, which were disclosed to US regulators on Thursday, made Twitter’s 11-member board seriously consider a possible deal.
It is learned that Musk plans to finance his bid with the backing of US lender Morgan Stanley and other financial institutions.
Recently, Musk bought a 9.1 per cent stake in Twitter for about $3 billion and followed that up with a $43 billion offer for the remaining shares.
Reports indicate that a number of Twitter shareholders reportedly contacted the company after Musk announced the financing plan and urged it not to miss the opportunity for a potential deal.
Musk, earlier this month, refused a seat on Twitter’s board, which would have limited the shares he was allowed to own. He then made an unsolicited offer for the company on April 14 spiraling a series of back and forth developments.
(UNI)
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