The parties met on Sunday, just ten days after Musk offered $ 43 billion ($ 54.20 per share) for the social media platform.
The New York Times reported that talks were underway between Musk and the 11-member board on Monday morning, and both sides appear to be “approaching an agreement,” though it could still be masira.
They discussed the details, including the schedule for closing the potential deal and payments in the event of a breach of contract, sources told the Times.
Twitter was offered relatively coldly, but Musk announced on Thursday that he had secured $ 46.5 billion in funding to buy the company.
Often an offer by an unpredictable businessman to move the company to private ownership has alarmed Twitter fans in fear that Muskie has ruined everything that has become a moderately civilized mass town square. Shareholders doubt that Musk will actually accept the money and the offer together.
According to the magazine, Musk pushed hard for the deal on Friday when he personally met several major shareholders via video calls to make the purchase. He promised to address “free speech” issues that would surely damage the platform.
Some details of his plan were immediately available, but he tweeted about reducing advertising and allowing longer tweets.
After the meetings, some shareholders praised Musk.
“She has solid experience with TeslaLaurie Brunner, who manages Thrivent Asset Management LLC, told the magazine.“ It’s the catalyst for strong operational work on Twitter. Trivent owns approximately 0.4% of Twitter, valued at $ 160 million. He is also a Tesla shareholder.
Musk said he would consider making his offer directly to shareholders. But even with the support of major shareholders, it will need a strategy around the company’s so -called “poison pills,” a ploy that could effectively prevent it from increasing its shares by 15% or more.
Twitter shares have typically traded below its offer price since it made the offer on April 14, often as a signal that shareholders are skeptical of the deal. But on Friday they rose 4%, the magazine said.
Twitter will report its first quarter earnings on Thursday.
Source: Huffpost
