Stock Groups

Twitter is reportedly taking another look at Musk takeover bid


Elon Musk, entrepreneur and business mogul, gestures at the Tesla Gigafactory Plant under Construction, August 13, 2021, Gruenheide, near Berlin in eastern Germany.

Patrick Pleul | AFP | Getty Images

TwitterA potential takeover offer could become more attractive to the company. Elon MuskThe billionaire has revealed that he is a millionaire secured $46.5 billionIn financing The Wall Street Journal reported Sunday.

It was expected that the social media company would reject the offer. adopted a so-called poison pillTo fend off any hostile takeover.

According to the paper, sources familiar with this matter said that executives now look at the bid more carefully and are more inclined than ever to negotiate. Although things are moving quickly, the two sides plan to meet Sunday to discuss Musk’s. $43 billion proposalAccording to the Journal,

Twitter has not yet responded to CNBC’s request of comment.

According to some reports, social media giant Facebook is still trying estimate its own worth. According to the newspaper, executives could demand guarantees such as Musk providing protections against breakup if the deal fails.

Twitter will report its financial results this Thursday. It was widely anticipated that Twitter would weigh in on the deal. According to sources, executives may also be able to discuss the deal during the week.

According to the report, Twitter might indicate that it’s open to other bidders and negotiating with Musk under certain conditions. According to reports, Musk said that he would not change his original offer.

Read the full report from the Wall Street Journal.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.