Twitter considering Elon Musk's 'best and final' offer, deal to be finalised soon
By Team Newsable | First Published Apr 25, 2022, 6:51 PM ISTTwitter Inc began talks with Elon Musk on Sunday after wooing several of the social media company's shareholders with financial specifics on his $43 billion buyout bid, Reuters reported earlier on Sunday, citing sources.
Twitter is in the final stages of selling itself to Tesla CEO Elon Musk, and the deal may be finalised as soon as Monday, according to sources. According to media reports, Twitter may announce the agreement later on Monday, and discussions are still ongoing. Musk has made a $43 billion bid to purchase all of Twitter's stock, describing it as his "best and last" offer.
If the agreement falls through, Tesla CEO Elon Musk would acquire shares of Twitter for $54.20 each, according to Reuters. According to the news agency, Twitter may announce the $43 billion purchase later on Monday when its board meets to endorse the transaction to Twitter shareholders.
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According to reports, Twitter has yet to implement a go-shop option in its agreement with Elon Musk, which would allow the firm to consider competing bids from possible acquirers once the transaction is completed.
Twitter Inc began talks with Elon Musk on Sunday after wooing several of the social media company's shareholders with financial specifics on his $43 billion buyout bid, Reuters reported earlier on Sunday, citing sources.
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Musk, the CEO of electric carmaker Tesla Inc, has been visiting with Twitter shareholders in recent days to seek support for his proposal. He has stated that Twitter must be turned private in order to flourish and become a true forum for free speech.
Many Twitter shareholders contacted the firm after Musk announced a comprehensive funding plan for his bid on Thursday, urging it not to let the possibility for a merger pass them by, according to Reuters earlier on Sunday. Elon Musk said in a regulatory filing on April 14 that he has offered to acquire a 100% share in Twitter, only days after it was revealed that he had purchased a 9.2% stake in the firm.
Also Read | Elon Musk offers to buy Twitter for $43 billion in a hostile takeover
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