The 11-member Twitter board met on Sunday to consider billionaire Elon Musk’s $43 billion takeover offer for the social media company, according to reports. Musk “wooed many of the soci…
Musk “wooed many of the social media company’s shareholders with financing details on his $43 billion acquisition offer,” according to Reuters which quoted people familiar with the matter. “The company’s decision to engage with Musk… does not mean that it will accept his $54.20 per share bid,” according to Reuters. “It signifies, however, that Twitter is now exploring whether a sale of the company to Musk is possible on attractive terms.
The situation “remains fluid and fast-moving,” per The New York Times. The paper also said that that the discussions may come down to the price of the bid. Musk’s offer was a significant premium to the company’s stock price at the end of January, but still represents a large discount compared with the shares’ more than $60 apiece valuation through much of last year.Musk holds a stake, which is more than 9%, in Twitter. He has put together a $46.
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