Takeover Bid

Twitter's board reportedly met Elon Musk over the weekend to explore his $43bn (£33. 6bn) takeover offer for the Social Media platform.

After the Tesla boss first revealed his bid, Twitter's management announced a so-called " poison pill" strategy to fend off a potential hostile buyout.

Mr Musk plans to finance his bid with the backing of US lender Morgan Stanley and other financial institutions.

A spokesperson for Twitter declined to comment on the reports.

Details of how Mr Musk intended to finance his offer, which were disclosed to US regulators on Thursday, made Twitter's 11-member board seriously consider a possible deal, according to Reuters, the New York Times and Bloomberg - citing anonymous sources.

Mr Musk, who owns a More Than 9% stake in Twitter, has lined up a $46. 5bn financing package for his bid, according to a regulatory filing.

The funding will come from a mixture of his own assets and the backing of Wall Street banking giant Morgan Stanley and other firms.

A Number of Twitter shareholders reportedly contacted The Company after Mr Musk announced the financing plan and urged it not to miss the opportunity for a potential deal.

Dan Ives, an analyst at investment firm Wedbush Securities, said many investors will view the discussions " as The Beginning of The End for Twitter as a public company, with Musk likely now on a path to acquire The Company unless a second bidder comes into the mix".

A hostile takeover attempt by Mr Musk, who is The World 's richest person, would put " further pressure on the board with their backs against The Wall in this Game of Thrones battle for Twitter, " Mr Ives added.

Earlier this month, Mr Musk refused a seat on Twitter's board, which would have limited the shares he was allowed to own. He then made on 14 April.

The Next day, Twitter's board announced a plan to protect itself against a potential hostile takeover by adopting what is known as a " limited-duration shareholder rights plan" also known as a " poison pill".

The Move deters anyone from having More Than a 15% stake in The Company . It does this by allowing others to buy additional shares in The Firm at a discount.

A Takeover Bid is considered to be hostile when a person or business tries to take over another company against The Wishes of The Target firm's management.

Source of news: bbc.com