Twitter is reconsidering Elon Musk’s buyout proposal, with discussions between the 2 camps ongoing Sunday, The Wall Street Journal reported, after the billionaire mentioned Thursday he had secured the mandatory funding.

“Twitter is taking a fresh look at the offer and is more likely than before to seek to negotiate,” the enterprise every day reported, citing sources conversant in the matter.

Tesla CEO Musk mentioned Thursday he had secured near $46.5 billion (roughly Rs. 3,54,562 crore) to finance the transaction, but additionally that he deliberate to enchantment instantly the corporate’s shareholders as he appears to be like to take over the social media platform.

The Twitter board of administrators had been against the proposal, lining up a “poison pill” clause that might make it tougher for Musk to amass greater than 15 % of the corporate through the market. He at the moment owns 9.2 % of shares.

“The potential turnabout on Twitter’s part comes after Mr. Musk met privately Friday with several shareholders of the company,” the Journal reported.

Musk “pledged to solve the free-speech issues he sees as plaguing the platform and the country more broadly, whether his bid succeeds or not,” the sources added, based on the Journal.

Musk has beforehand cited considerations over freedom of speech as motivation for purchasing the platform, although free-speech consultants have pointed to Musk’s unpredictable statements and historical past of bullying critics as contradictory to his acknowledged goals.

He “made his pitch to select shareholders in a series of video calls, with a focus on actively managed funds… in hopes that they could sway the company’s decision,” the sources instructed the Journal.

The polarising billionaire mentioned final week he was contemplating bypassing Twitter’s board of administrators in his takeover bid by buying shares instantly from current shareholders, “but has not determined whether to do so at this time,” based on a securities submitting launched Thursday.

The Journal mentioned Twitter might make an announcement on the matter by Thursday and even earlier than, based on these sources.

Musk has apparently lately instructed Twitter chairman Bret Taylor his unique April 14 provide of $54.20 (roughly Rs. 4,050) per share has not modified, the every day added.

Twitter had beforehand invited Musk to affix its board of administrators, however the SpaceX head declined.