There was a report today that an activist investor, Anson, has taken a position with the hopes of forcing this outcome.

Resolves YES if the entire company is sold.

I am not going to bet on the market.

This market will resolve on an announcement that an acquisition has been agreed by both parties - press release from either the acquirer or acquiree, won’t wait until the transaction is finalized. A press release about a hostile takeover offer or offer where Twilio shareholders haven't agreed won't be enough to resolve the market.