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Twitter Reconsidering Elon Musk Take Over Bid – Report

has reportedly rescinded its initial move to fend off a total of the micro blogging site by CEO Elon Musk.

The company is now considering the world’s richest ’s proposal.

This development comes shortly after Musk announced he had secured $46.5 billion to buy the social platform, in to counter the poison pill approach initiated by Twitter to slow down his proposed takeover.

 

According to the Street Journal, executives have begun showing of reviewing the bid and a with the Tesla boss, as representatives from both were to meet on .

There are speculations that Twitter executives who are yet to estimate the value of the micro blogging platform may a deal that would ensure Musk covered the protections as a contingency plan if the deal fails. The outcome of Sunday’s meeting would be made in the course of the week, the Journal noted.

On ,  Musk said he was exploring a tender offer to buy all of Twitter’s common stock for $54.20 per in cash.

A tender offer would allow Musk, who owns nine per cent of Twitter shares, to present his offer directly to other shareholders, bypassing the .

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