Twitter could accept Musk’s original offer to pay $54.20 per share in cash, according to Reuters and the Wall Street Journal, valuing the social media company at about $43 billion.
There is still a possibility the deal collapses during the final stages of negotiations, the Wall Street Journal reports, though Twitter may make the deal official as soon as Monday after its board meets with investors, according to Reuters. Twitter shares jumped 4.7% to $51.25 in pre-market trading, continuing the stock’s gains since Musk’s bid for the company became public earlier this month. Twitter did not immediately respond to Forbes’ request for comment.
Musk, the CEO of Tesla and SpaceX, became Twitter’s largest shareholder on April 4 when he purchased a 9.2% stake in the company for $2.89 billion.Twitter’s board had openly resisted a sale to Musk previously, adopting a poison pill on April 15 to prevent a hostile takeover from Musk, though the Wall Street Journal reported on Sunday that the board was warming to Musk’s offer.
Musk disclosed in an SEC filing last week he secured $46.5 billion in funding for his Twitter bid. Musk’s 83 million followers make him one of the most popular Twitter users and he has been a frequent critic of Twitter, openly questioning if the company’s policies infringe on freedom of speech.
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Twitter Board In Advanced Talks To Sell Company To World’s Wealthiest Man, Elon Musk | Sahara ReportersThe 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. Elon musk werey, abeg do buy Twitter Ok esla 😉
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Report: Twitter board in talks with Elon Musk over bid to buy company | TheCableTwitter, a micro-blogging company, is nearing a deal to sell itself to Elon Musk, The New York Times is reporting.
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