"But after [Musk] disclosed last week that he now has $46.5 billion in financing, Twitter is taking a fresh look at the offer..."

"... and is more likely than before to seek to negotiate, people familiar with the matter said.... Twitter is still working on an all-important estimate of its own value, which would need to come in close to Mr. Musk’s offer.... The two sides are meeting Sunday.... Mr. Musk said he sees no way Twitter management can get the stock to his offer price on its own, given the issues in the business and a persistent inability to correct them.... Twitter’s board should engage with Mr. Musk since its stock has 'gone nowhere' since the company went public eight years ago, said Jeff Gramm, a portfolio manager with Bandera Partners LLC...  Mr. Gramm said Twitter’s board can’t walk away from Mr. Musk’s offer without providing an alternative that gives real value to shareholders. 'I’m not sure what that can be at this stage besides finding a higher bid,' he said."

Writes Cara Lombardo in The Wall Street Journal.

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