Twitter’s 11-member board and Tesla CEO Elon Musk negotiated into the early hours of Monday over his bid to buy the social media platform, The New York Times reported.
This means that Twitter is nearing a deal to sell itself to Elon Musk, two people with knowledge of the situation said, a move that would unite the world’s richest man with the influential social networking service. Twitter’s board was negotiating with the world’s wealthiest man, Mr. Musk into the early hours of Monday over his unsolicited bid to buy the company, after he began lining up $46.5 billion in financing for the offer last week, said the people, who spoke on the condition of anonymity because they were not authorized to discuss confidential information.
The two sides were discussing details including a timeline to close any potential deal and any fees that would be paid if an agreement were signed and then fell apart, they said.The discussions followed a Twitter board meeting on Sunday morning to discuss Mr. Musk’s offer, the people said. Obtaining commitments for the financing was a turning point for how the board viewed Mr. Musk’s bid of $54.20 a share, enabling the company’s 11 board members to seriously consider his offer, the people said.
In a securities filing that was made public on Thursday, Mr. Musk detailed how he had put together financing from the investment bank Morgan Stanley and a group of other lenders, which were offering $13 billion in debt financing, plus another $12.5 billion in loans against his stock in Tesla, the electric carmaker that he runs. He was expected to add about $21 billion in equity financing.
Sell company
Come and buy Nigeria
Elon the new owner of twitter
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It is finished, once it is sold , no more freedom of speech. It is going to be worse than Facebook then.
Twitter 😢
Trump is coming back on Twitter
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Elon musk werey, abeg do buy Twitter
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