According to multiple reports stemming from people familiar with the matter, Twitter has been engaged in negotiations with Elon Musk over his proposal to purchase the social media platform for $46.5 billion.
However, before Musk outlined his improvements and plans to secure the $46.5 billion needed for the acquisition, Twitter’s board implemented a “poison pill” plan to avoid the acquisition.
Despite the poison pill plan and the backlash from a number of people against Musk taking over, three reports note that Twitter’s management is contemplating Musk’s offer now.
Bloomberg, the Wall Street Journal have all reported that people familiar with the matter say Twitter’s board is now engaging in negotiations with the Tesla executive.
The New York Times reports that the agreement is not final and there’s definitely a chance it won’t work.
Musk is reportedly working with Morgan Stanley in order to acquire debt financing and he allegedly has $21 billion in cash reserves to leverage as well.
Last week, Musk also talked about Twitter integrating dogecoin and that it could possibly be a payment option for Twitter’s Blue service.
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