The board of directors of Twitter will meet tomorrow to take another look at the offer made by Elon Musk. But, until they make an announcement after the meeting do not read too much into it. There are multiple reasons why they are taking another look. The first reason could be because, unlike his original bid, Musk now has the actual funding in place. That means he would be ready to buy them out immediately.
It could also be a ploy by the board to get possible suitors to get off the pot and make their own bid for the company, preferably someone very liberal. They also might be trying to avoid lawsuits accusing them of neglecting their fiduciary responsibilities. Those lawsuits can be costly and time-consuming and should they lose those suits, board members could find themselves barred from joining the board for other companies because of non-feasance.
Twitter is re-examining Elon Musk’s $43 billion takeover supply after the billionaire lined up financing for the bid, in an indication the social-media firm could possibly be extra receptive to a deal.
Twitter had been anticipated to rebuff the supply, which Mr. Musk made earlier this month without saying how he would pay for it. However, after he disclosed final week that he now has $46.5 billion in financing, Twitter is taking a contemporary have a look at the supply and is extra seemingly than earlier than to hunt to barter, individuals aware of the matter stated. The state of affairs is fast-moving and it’s nonetheless removed from assured Twitter will accomplish that.
Twitter continues to be engaged on an all-important estimate of its personal worth, which would wish to return in near Mr. Musk’s supply, and it may additionally insist on sweeteners comparable to Mr. Musk agreeing to cowl breakup protections ought to the deal disintegrate, among the individuals stated.
The 2 sides are assembly Sunday to debate Mr. Musk’s proposal, the individuals stated.
Twitter is predicted to weigh in on the bid when it reviews first-quarter earnings Thursday, if not sooner
How many Twitter employees do you suppose are sweating bullets right now? If I were Musk, I would take precautions against them committing sabotage. If sabotage does happen, he needs to prosecute to the fullest extent of the law. Many employees will quit if Musk does take over. That could be chalked up as a win. The more the merrier.