Twitter Could Accept Elon Musk Deal as Soon as Monday: Report
Following an update that Tesla’s Elon Musk was meeting with Twitter on Sunday to discuss a potential buyout, it appears the social media company may be ready to accept an offer in the coming days.
Twitter is planning a transaction with Elon Musk that could take place as soon as Monday if negotiations go well, according to Bloomberg.
The $43 billion sale of Twitter to Elon Musk has been back and forth for the past few weeks, though if completed, it could go down as the largest-ever leveraged buyout of a listed company, as detailed by sources familiar with the subject.
Discussions over the takeover occurring at $54.20 per share for Twitter continued from Sunday night into Monday morning, according to the sources.
Bill Gates Admits $500 Million Bet Against Tesla, Confirms Elon Musk https://t.co/Oyjvfc5LUP
— TeslaNorth.com (@RealTeslaNorth) April 23, 2022
Those familiar also said Twitter began opening up to Musk’s deal after he laid out a financing plan for the bid, including Morgan Stanley and other financiers.
The sources also said the situation is still fluid and could either continue and come to fruition, or fall apart completely.
Musk raised as much as $46.5 billion in financing to purchase Twitter, as seen earlier this month in a filing with U.S. regulators.
The news sent shares of Twitter up 3.99% on Monday, trading at $50.88 as of writing.
The ongoing news of the purchase comes about a month after the Securities and Exchange Commission (SEC) reiterated Musk’s Twitter oversight agreement, following Musk’s criticism of the arrangement mandated out of a 2018 settlement.