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Twitter to accept Elon Musk’s $43 billion offer

 


Micro-blogging and social media platform, Twitter, is poised to agree to a sale to Elon Musk, the Chief Executive Officer of Tesla, for around $43 billion in cash.

 

Reuters reports that Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders.

 

It added that it was still possible the deal could collapse at the last minute.

 

Musk, the world’s richest person according to Forbes, is negotiating to buy Twitter in a personal capacity and Tesla is not involved in the deal.

 

Recall that Musk has offered to buy Twitter for $43 billion earlier this month.

 

Musk announced the offer in a filing with the U.S. Securities and Exchange Commission.

 

The billionaire will offer 54.20 per share in cash, representing a 54% premium over the January 28 closing price and a value of about $43 billion.

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