According to rumours, the Twitter board of directors will meet with Musk to consider the deal.

Elon Musk allegedly met with Twitter’s board of directors over the weekend to discuss his $43 billion (£33.6 billion) buyout bid.

Following the announcement of the Tesla CEO’s proposal, Twitter’s management declared a “poison pill” strategy to stave against a hostile takeover.

Mr Musk intends to fund his effort with the help of Morgan Stanley and other financial institutions in the United States.

Twitter’s representative declined to comment on the claims.

According to Reuters, the New York Times, and Bloomberg, which cited anonymous sources, details of Mr Musk’s plan to finance his bid, which were presented to US authorities on Thursday, prompted Twitter’s 11-member board to seriously explore a prospective transaction.

According to a regulatory filing, Mr Musk, who owns more than 9% of Twitter, has secured a $46.5 billion funding package for his offer.

The money will come from a combination of his personal holdings and the support of Morgan Stanley and other Wall Street corporations.

Following Mr Musk’s announcement of the fundraising proposal, a number of Twitter shareholders allegedly contacted the firm, urging it not to lose out on a prospective transaction.
Many investors would see the conversations “as the beginning of the end for Twitter as a public business, with Musk likely now on a road to purchase the company unless a second bidder enters into the mix,” according to Dan Ives, an analyst at investment firm Wedbush Securities.

Mr Ives added that a hostile takeover bid by Mr Musk, the world’s wealthiest man, would place “additional pressure on the board with their backs against the wall in this Game of Thrones war over Twitter.”
Mr Musk turned down a position on Twitter’s board of directors earlier this month, limiting the number of shares he could buy. On April 14, he made an unsolicited bid for the firm.

The next day, Twitter’s board of directors revealed a proposal to safeguard the company from a hostile acquisition by implementing a “limited-duration shareholder rights plan,” sometimes known as a “poison pill.”

This action prevents anybody from owning more than a 15% share in the firm. It accomplishes this by letting people to purchase additional shares in the company at a reduced price.

When a person or corporation seeks to take over another company against the wishes of the target company’s management, it is referred to as a hostile takeover offer.