Twitter is reportedly taking another look at Musk’s takeover bid

Entrepreneur and business tycoon Elon Musk gestures during a visit to the Tesla Gigafactory plant under construction on August 13, 2021 in Gruenheide near Berlin, eastern Germany.

Patrizio Pleul | AFP | Getty Images

Twitter may become more receptive to a takeover bid from Elon Musk after the billionaire revealed he did insured $ 46.5 billion in financing The Wall Street Journal reported on Sunday.

The social media company should have canceled the offer and it did adopted a so-called poisonous pill to repel a potential hostile takeover.

But executives are now re-examining the offer and are more likely than before to try to negotiate, the paper said, citing people familiar with the matter. The situation is fast moving, but the two sides will meet on Sunday to discuss Musk’s $ 43 billion proposalreported the newspaper.

Twitter did not immediately respond to CNBC’s request for comment on the report.

The social media giant is reportedly still working to estimate its own worth. Executives may also insist on guarantees, such as Musk covering protections against breaking up if the deal fails, the paper said.

Twitter will report its latest financial results on Thursday, and it was widely expected that it would weigh on the offer by then. Executives may also discuss the deal earlier in the week, the sources said.

Twitter may indicate that it is open to other bidders or that it is negotiating with Musk on certain terms, according to the report. Musk has reportedly said he will not alter his initial offer.

Read the full Wall Street Journal report.