Twitter Board Mulls Over Elon Musk’s $46.5 Billion Purchase Offer in Sunday Meeting
Elon Musk’s attempt to buy Twitter is not dead in the water. In fact, the social networking service’s board met Sunday morning to weigh the option to accept his unsolicited $46.5 billion offer, according to The New York Times sources. Financing of Musk’s bid of $54.20 a share, the sources said, was “a turning point” that enabled the 11 board members to “seriously consider his offer.” The NY Times sources, who asked to remain anonymous, said the board planned to meet with Musk later in the day to discuss “other contours around a potential deal,” which included a timeline to close a deal and fees that would be paid “if an agreement was signed and then fell apart.” It is unclear at the moment if that meeting took place. The Tesla and SpaceX founder announced Thursday that he was putting together $46.5 billion in funds to buy Twitter, and was considering a tender offer to shareholders if the board rejected his offer. It is also $3.5 billion more than the $43 billion of his publicized...