.Twitter has begun deal negotiations with ElonMusk after he wooed many of the social media company's shareholders with financing details on his $60 billion acquisition offer. 7NEWS
Twitter has begun deal negotiations with Elon Musk after he wooed many of the social media company's shareholders with financing details on his $US43 billion acquisition offer, people familiar with the matter say.
It signifies, however, that Twitter is now exploring whether a sale of the company to Musk is possible on attractive terms.Musk, chief executive of electric car giant Tesla, has been meeting Twitter shareholders in the past few days, seeking support for his bid.Many Twitter shareholders reached out to the company after Musk outlined a detailed financing plan for his bid on Thursday and urged it not to let the opportunity for a deal slip away, Reuters reported earlier on Sunday.
Nevertheless, Twitter's board has decided to engage with Musk to gather more information on his ability to complete the deal, and potentially get better terms. The social media company adopted a poison pill after Musk made his offer to prevent him raising his more than nine per cent stake in the company above 15 per cent without negotiating a deal with its board.
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