A number of reports revealed that Twitter has started holding talks with billionaire Elon Musk about his $43 billion offer to acquire the Twitter site.
The two sides met, on Sunday, to discuss the agreement proposed by Musk, citing sources familiar with the matter, according to Reuters, the Wall Street Journal and the New York Times.
The Wall Street Journal said a deal could be finalized as soon as this week, but there was no guarantee a deal would be reached.
The deal talks represent a significant change in Twitter’s previous stance on Mike’s bid. On Monday, the company put in place a so-called “poison pill” defense to block Musk’s bid.
However, last Thursday, Elon Musk had detailed financing plans to secure up to $46.5 billion to buy Twitter, something that is likely to make the Twitter site’s board of directors rethink.
Twitter executives met on Sunday to reconsider Elon Musk’s takeover bid, before starting talks later with the billionaire, Reuters reported.
While the British newspaper, The Times, quoting two sources, reported that “negotiations between Musk and the Twitter board continued until the early hours of Monday, and Twitter was close to concluding a deal with Musk, although the situation was volatile.”
In early April, Musk revealed that he owns 9.2 percent of Twitter’s shares, and soon after, he offered to buy the tweeting site outright for $54.20 a share.
The billionaire said he was excited to buy Twitter because he believed it did not serve “freedom of speech” as a public company.
Elon Musk may acquire Twitter for $43 billion
