Report: Elon Musk in Advanced Talks with Twitter over $43 Billion Takeover Deal
According to recent reports, Tesla CEO Elon Musk has resumed negotiations with Twitter over his $43 billion company takeover offer.
The Wall Street Journal reports that talks between executives at Twitter and Tesla CEO Elon Musk have begun again as the company reconsiders Musk’s $43 billion takeover offer. Musk and the Twitter board reportedly met on Sunday to discuss the deal, according to sources with knowledge of the meeting. It is believed that an official agreement may be reached this week.
Previously, Twitter seemed opposed to Musk’s takeover bid with eh company laying out a “poison pill” defense to block Musk’s offer. But Musk later went on to detail financing plans to secure $46.5 billion in funds to purchase Twitter — which may have forced Twitter’s board to reconsider the offer.
Negotiations between Musk and the board reportedly went on into the early hours of Monday and Twitter was nearing a deal with Musk, according to the New York Times’ sources. Dan Ives, an analyst at Wedbush, told clients in a note that Wall Street would see news of the deal 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.”
Ives stated: “The board could officially reject Musk’s bid and then a hostile tender offer will likely begin this week, putting further pressure on the board with their back against the wall in this Game of Thrones battle for Twitter.”