A $43 billion in cash offer by world’s richest man,
Elon Musk to buy Twitter is being considered by
the company’s board.
Musk is the chief executive of Tesla Inc.
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According to Reuters, Twitter may announce the
$54.20-per-share deal later on Monday April 25,
once its board has met to recommend the
transaction to Twitter shareholders.
“It is always possible that the deal collapses at the
last minute”, the sources added.
Tesla CEO, Musk, who is the world’s richest person
is negotiating to buy Twitter in a personal capacity
and his company is not involved in the deal.
Twitter has not been able to secure so far a ‘go-
shop’ provision under its agreement with Musk that
would allow it to solicit other bids once the deal is
signed, the sources said. Still, Twitter would be
allowed to accept an offer from another party by
paying Musk a break-up fee, the sources added.
Twitter shares were up 4.5% in pre-market trading
in New York on Monday April 25, at $51.15.
Musk has said Twitter needs to be made private to
grow and become a genuine platform for free
speech.
If successful, the deal would come just four days
after Musk unveiled a financing package to back
the acquisition.
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Twitter Set To Accept Elon Musk’s
$43 Billion Offer to Buy The Social
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