With Twitter's quarterly earnings report anticipated Thursday and a proposal by Elon Musk looming over the board, a number of sources have claimed shareholders are escalating strain to barter the Tesla CEO's "finest and remaining provide" to buy the corporate.

Twitter's board of administrators met Sunday to debate a proposal by Elon Musk's to buy the corporate for $46.5 billion, as reported by The New York Instances, and "folks acquainted with the matter" advised Reuters that shareholders are looking for to barter.

Sources mentioned that whereas Twitter shareholders have various concepts of a good value, many urged the corporate to think about negotiations, in keeping with a report from Reuters.

The bid and potential negotiations come forward of the discharge of Twitter's quarterly earnings report on Thursday.

The sources mentioned that upon launch of the report, the board might discover Musk's bid of $54.20 per share too low, however some nonetheless need to negotiate a greater provide. Shares of Twitter closed at $48.93 on Friday.

Elon Musk Twitter Bid
Nameless sources mentioned some Twitter shareholders have urged the corporate to think about negotiations with Elon Musk on his provide to buy the corporate, in keeping with an unique interview with Reuters. Above, Musk spoke on the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening get together on April 7, 2022 in Austin, Texas. SUZANNE CORDEIRO/AFP through GETTY IMAGES

Choices embody opening the books to encourage an even bigger bid or reaching out for provides from different bidders.

"I would not be stunned to get up subsequent week and see Musk elevate what he known as his finest and remaining provide to probably $64.20 per share," a Twitter investor advised Reuters beneath the situation of anonymity.

"He may additionally drop the entire thing completely. Something is feasible," the supply mentioned on Musk's provide.

Twitter's board was anticipated to satisfy with Musk representatives later Sunday, in keeping with the nameless supply in The New York Instances. That dialog was anticipated to yield a closure timeline and different elements.

Twitter responded to Musk's provide to purchase the corporate by adopting a coverage identified within the investing world as a "poison tablet," which might enable Twitter shareholders to purchase further shares at a reduction, successfully diluting Musk's stake and stopping him from reaching a majority possession standing. In response, Musk urged launching a young provide.

The sources advised Reuters that the Twitter board will weigh the priority that until it negotiates, he might be backed by shareholders within the tender provide.

Musk's provide to buy the corporate, which comes after the Tesla CEO purchased a 9.2 % stake in Twitter however determined not to sit on the board, despatched Twitter shares surging by as a lot as 10 % in pre-market commerce.

His resolution to not take a boardroom seat gave him the pliability to amass extra shares of the social media platform.

Twitter declined remark via Lauren Myers-Cavanagh, director of communications.

Newsweek reached out to Elon Musk for remark.