Twitter announced last night that Elon Musk’s offer to purchase all shares of the company for $43billion was being reconsidered. Bloomberg reports today that the Twitter board is in the final stages for discussions regarding the sale of the company. Reuters reports that the company plans to accept the offer. billionaire.
The social network’s leadership is currently preparing the terms for the deal. According to Bloomberg and Reuters sources, the deal could be announced by today’s end. After the recommendation of shareholders by Twitter’s board, this could occur. However, sources warn that the deal may fail at any moment.
Twitter management might decide to sell the company. But not necessarily Elon Musk. This means that the company may be open to offers from private buyers or other companies, and even Musk can offer other conditions. Twitter will compensate Musk if they disagree.
Bloomberg sources claim that Elon Musk is in negotiations with potential co-investors and partners for the acquisition of Twitter. The talks between Musk, Twitter’s board members and Musk reportedly lasted almost overnight until Monday morning.
Twitter stock rose to 50.50, more than 3 percent today amid speculation of a deal that could be the largest ever public-to private transaction. Musk offered to purchase all shares of Twitter for $54.20 per share.
This month, it was revealed that Elon Musk purchased a substantial stake in Twitter. His share was worth approximately 9.2%.After some time, it was revealed that the billionaire wanted to buy all of the company’s shares for approximately $43 billion and make the company private. Twitter initially rejected Musk’s offer. However, it was later revealed that Musk had already raised the money to complete the deal, even with a margin, and was considering a tender. The company then decided to reconsider Musk’s offer.