The Twitter board of directors convened for a dialogue about Elon Musk's takeover offer
"two sides are meeting," signaling that "the social-media company could be more receptive to a deal."
"Twitter reassesses Musk bid, may be more open to deal" was the Journal's lead headline
for much of Sunday afternoon and evening, prompting newfound speculation about Twitter's future.
What is the Twitter board's estimation of the company's value? Is it in the same ballpark as Musk?
Dan Ives of Wedbush Securities said Sunday that "the Street will read this news today 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.
The Board could officially reject Musk's bid and then a hostile tender off will begin."
currently trading around $49 a share, lower than Musk's $54.20 a share offer
As previously announced, the Board is continuing to conduct a careful,
comprehensive and deliberate review to determine the course of action
in the best interest of the Company and all Twitter stockholders."