On Sunday, Twitter reportedly started considering Musk’s offer as it appears that he managed to convince the board of his proposal. A deal likely to be struck between the two as early as this week.
New Delhi: If reports to believe, micro-blogging site Twitter is likely to announce its takeover to Elon Musk who had earlier to purchase the social media company. Musk, at present, has 9.1 per cent stake in Twitter and he is the second biggest shareholder in the company.
Musk, a ‘free speech absolutist’ has always been critical of policies of the micro blogging platform. He always maintains that Twitter needs to be taken private to grow and become a genuine platform for free speech. Twitter had previously invited Elon Musk to join its board of directors, but the SpaceX head declined.
If reports to believe, negation between Elon Musk and the social media company is at final stage. Musk may pay $43 billion to Twitter for the deal. Musk has reportedly called it a ‘best and final’ deal for takeover. Twitter mat announce the $54.20-per-share deal once its board has met to recommend the transaction to Twitter shareholders on Monday.
As per the report, potential turnabout on the part of social site came after the Tesla CEO met with several shareholders of the company on Friday. On Thursday, he had reportedly secured close to $46.5 billion to finance the transaction.
On Sunday, Twitter reportedly started considering Musk’s offer as it appears that he managed to convince the board of his proposal. A deal likely to be struck between the two as early as this week.
