New York Times, reported that the 11-member board was negotiating with Musk into the early hours of Monday over his unsolicited bid to buy the company, after he began lining up $46.5 billion in financing for the offer last week.
Anonymous sources close to the claimed the two parties were discussing details including a timeline to close any potential deal and any fees that would be paid if an agreement were signed and then fell apart.This comes days after Twitter moved to defend itself against Elon Musk’s $43 billion hostile takeover bid, announcing a plan that would allow shareholders to purchase additional stock.
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