Apr 25, 2022

Twitter board meets Musk to discuss bid, reports say

Twitter's board reportedly met Elon Musk over the weekend to explore his $43bn takeover offer for the social media platform. Details of how Mr 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, according to Reuters, the New York Times and Bloomberg - citing anonymous sources. Mr Musk, who owns a more than 9% stake in Twitter, has lined up a $46.5bn financing package for his bid, according to a regulatory filing. A number of Twitter shareholders reportedly contacted the company after Mr Musk announced the financing plan and urged it not to miss the opportunity for a potential deal. Dan Ives, an analyst at investment firm Wedbush Securities, said many investors will view the discussions "As the beginning of the end for Twitter as a public company, with Musk likely now on a path to acquire the company unless a second bidder comes into the mix".

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