Twitter could reach takeover deal with Musk as soon as Monday: reports
Twitter could as soon as early this week reach a deal with Elon Musk to purchase the company for around $43 billion in cash, according to new reports.
Reuters reported on Monday that Musk, who has expressed interest in buying the social media giant for weeks, has made his “best and final” offer to purchase the tech company.
Twitter could announce the $54.20-per-share deal as soon as Monday, the outlet reported, adding that sources it spoke with noted a deal could still fall apart at the last minute.
Bloomberg also reported on Monday that Twitter was in the “final stretch” of negotiations about a potential sale.
Musk sent the business and technology world into a frenzy earlier this month when he announced he was offering to buy 100 percent of Twitter for $54.20 per share in cash.
Musk’s vision for Twitter, he has said, is to take the company private and expand its subscription service and add an edit feature. He has also said the platform should be more open to all kinds of speech and focus less on content moderation.
Monday’s reports comes just a day after the social media company’s 11-person board met to discuss Musk’s bid.
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