The latest reports indicate that the social media platform Twitter might accept Elon Musk’s offer for $54.20 per share in order to complete the acquisition. to acquire Twitter sold to Elon Musk The deal might be announced on Monday, Bloomberg and Reuters report.
Claim: Twitter sold to Elon Musk
On Sunday, the two sides met to negotiate Musk’s offer, according to a Wall Street Journal report. The terms of the agreement were still being discussed overnight Monday into Tuesday morning. It’s possible that the agreement will fall through at the last minute, according to Reuters.
The stock price of Twitter rose by around 5% in premarket trading on Monday in the US, reaching $51. After Musk turned down a seat on Twitter’s board, he made an offer to purchase the popular social network earlier this month. Tesla and SpaceX CEO already owns more than 9 percent of Twitter.
Twitter board activated “poison pill” plan after Elon Musk’s $43M offer to buy the platform. By making additional shares available, poison pills make it more difficult for a prospective buyer to acquire a majority of a company’s stock. Then we’ve learned that Elon Musk Twitter offer worries privacy experts. Even some rumors suggest that Elon Musk might end up creating a new social media platform.
Following a filing with the Securities and Exchange Commission last week, which revealed that Musk has secured $46.5 billion in financing to fund the offer, including support from Morgan Stanley, Twitter warmed up to the prospect of a sale.
Elon Musk, who has 82 million followers on Twitter, is a frequent user of the service but also one of its most vocal critics. He’s openly questioned Twitter’s long-term viability, polling his fans about potential changes at the firm on several occasions.
Elon Musk stated in a letter to Bret Taylor, Twitter’s board of directors chair, that he invested because he believes the platform has “its potential to be the platform for free speech.” Musk plans to take the public firm private in order to accomplish this goal. The First Amendment protects individuals’ right to free speech, but it does not apply to social media companies, which have their own standards. Is Twitter sold to Elon Musk? We still don’t know, but we are looking forward to hear the news.
