Twitter sold elon musk $43 billion deal microblogging site sale latest updates


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Twitter will likely finalize a deal with Elon Musk.

Highlights

  • Twitter is close to an agreement to accept Elon Musk
  • Tesla’s CEO offered to buy Twitter a few weeks ago
  • Musk offered Twitter 43 43 billion as the ‘best and final’ offer

A few days after Elon Musk offered to buy Twitter, the microblogging site is close to an agreement to sell itself to Tesla’s CEO for $ 54.20 per share in cash, the report said.

$ 54.20 per share is the price that Elon Musk originally offered to the social media company and called him ‘the best and the ultimate’, Reuters quoted people familiar with the matter.

Elon Musk had previously said he had raised $ 46.5 billion to buy Twitter and that he was trying to negotiate a deal with the company.

Last week, Musk announced an offer to buy the social media company $ 54.20 per share, or about $ 43 billion. At the time, he said he would finance the acquisition.

The Tesla CEO said in a document submitted to U.S. securities regulators on Thursday that he was looking into what is known as a tender offer to buy all common stock on the social media platform for $ 54.20 per share in cash.

Under a tender offer, Musk, who owns about 9% of Twitter’s shares, will bypass the board and pass the offer directly to other shareholders. However, Mask has not yet decided whether to do so. Documents say Twitter did not respond to Mask’s offer.

Last week Twitter’s board adopted a “poison pill” defense that could make it costly by banning an occupation attempt.

Also read | Twitter: Report in discussion with Mask about the bid to buy the platform

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