Twitter is now re-examining Elon Musk’s offer to buy the company and take it private. Initially it appeared that although they didn’t say no, they were looking for an alternative buyer or possibly an escape path via a “poison pill”.
The “poison pill” was indeed initiated as an official option recently, to buy time for the board. Now that Musk has officially secured financing as is considering a ”hostile tender offer” despite the ”poison pill”, many analysts have opined that Twitter may be best suited to take Musk’s original offer.
WSJ reports that the Twitter board is now more likely to take the offer than before.
The situation is moving quickly but it is reported that ”both sides” are in discussions and meeting.
CNBC said a Twitter spokesperson declined to comment on the recent report.
Twitter reports earnings Thursday and is expected to comment on the situation then according to CNBC.
There may be updates before then, from Musk’s Twitter with possible hints or from other sources.
This is a developing story and may be updated shortly with more details.
2 Comments