According to reports, it may be possible for Musk to end up owning a newly-private Twitter. The Washington Post and The New York Times are both reporting that the corporate governing body of the company is considering Musk's offer to buy the company.
The New York Times reports that the board of directors of the social network met on Sunday to discuss Musk's offer, and that they then entered into negotiations with Musk early on Monday to hammer out additional details.
The reports stress that the deal is not yet final and could still fall apart, but it is amazing that it has gotten this far. Musk's bid was initially seen by critics as undervaluing the company significantly despite it being a premium to the current stock price, and the board even instituted a poison pill policy to try to block Musk from acquiring.
We have a recap of the wild twists in the story so far. We will have another one at some point today.
All Rights Reserved © 2024
