Twitter expected to accept Elon Musk’s $43 billion buyout offer
Social network Twitter is expected to accept Tesla CEO Elon Musk’s offer to buy the company for $43 billion as soon as today, sources have told Reuters.
Musk acquired a 9.2% stake in the platform at the beginning of the month for $2.89 billion, becoming one of the biggest shareholders in Twitter, with a larger stake in the company than the former CEO of Twitter, Jack Dorsey. Two weeks later, Musk proposed a $43 billion buyout of the company, with Twitter saying at the time that it would consider the offer “carefully.”
According to Reuters, Twitter could accept Musk’s buyout offer as soon as today, reporting that its sources have said Musk met with Twitter’s Board of Directors on Sunday to discuss his bid to take the company private, although the deal hasn’t been confirmed yet and could still fall through at any moment.
Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said. It is always possible that the deal collapses at the last minute, the sources added.
Musk has pledged to make several improvements to Twitter should his bid be successful, including loosening content moderation, removing spam bots and improving the platform’s verification system.
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