A person familiar with the matter confirmed a board meeting took place on Sunday and said discussions about Musk’s bid had become serious.
“Twitter reevaluates Musk’s offer, may be more open to business” was the magazine’s headline throughout Sunday afternoon and evening, sparking fresh speculation about Twitter’s future.
None of the people involved have commented on the meetings. But Musk’s filing with the Securities and Exchange Commission last Thursday, saying he raised $46.5 billion to fund the deal, appears to be the driving factor.
“Twitter is taking a fresh look at the offer and is more likely than ever to seek negotiation,” Wall Street Journal reporter Kara Lombardo wrote, adding that “the situation is moving fast.”
Big One Unknown: What is Twitter’s board of directors’ assessment of the company’s value? Is it on the same playing field as Musk?
Twitter — which is currently trading around $49 a share, less than Musk’s offer of $54.20 a share — is set to report first-quarter earnings Thursday afternoon. The company will have to tackle Musk’s offer by then, if not sooner.
And the only statement issued by the company on Sunday evening was as follows: “As previously announced, the Board of Directors continues to conduct a careful, comprehensive, and considered review to determine a course of action in the interest of the company and all Twitter shareholders.”
Elmore Leonard writes for Bjournal, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, reliable reporting and useful information, helping readers stay informed about current events, emerging trends, and stories that matter.
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