Twitter is reportedly prepared to accept Elon Musk’s offer to buy the company for $54.20 per share. Bloomberg has reported that the deal could be reached today if negotiations go smoothly.
Last week, it was reported that Mr Musk had secured the funding for the deal after buying more than 9 per cent of Twitter, making him the most prominent company’s biggest shareholder on 9 April.
On 14 April, Musk announced an offer to buy the social media platform for about $43 billion. The billionaire has commitments from Morgan Stanley and other financial institutions, he said in documents published by the US Securities and Exchange Commission, pushing back against rumours that he did not have enough liquid cash to make the deal.
Read : Twitter starts negotiations with Elon Musk for $43 Billion Buy-Out Proposal.
Twitter had initially enacted an anti-takeover measure known as a poison pill that could scupper a takeover attempt by making it too expensive but apparently decided to negotiate following an updated proposal from Mr Musk.
The board apparently wants to know if there are any more active investigations into Mr Musk from regulators like the SEC that could stop the deal from falling through, and if Mr Musk buying the company would be too great a risk, there could be a break-up fee for Twitter.
Twitter had initially enacted an anti-takeover measure known as a poison pill that could scupper a takeover attempt by making it too expensive but apparently decided to negotiate following an updated proposal from Mr Musk.
The board apparently wants to know if there are any more active investigations into Mr Musk from regulators like the SEC that could stop the deal from falling through, and if Mr Musk buying the company would be too great a risk, there could be a break-up fee for Twitter.
Elon Musk’s 5 Best Investments
1. PayPal2. SpaceX
3. DeepMind Technologies
4. Tesla Motors
5. The Boring Company
