Twitter is Reportedly setting up to Accept Elon Musk's Offer
After shutting down Musk's initial pitch, the board is on the verge of selling to Elon Musk...
Starting the week with a boom and what could be the tip-off to a crazy week of stocks Twitter is reportedly prepared to accept Elon Musk’s offer to buy the company at his rate of $54.20 per share. The deal could be reached as soon as today if the negotiations go smoothly according to Bloomberg.
Last week Musk proved that he had secured the funding he was offering for the $43 Billion deal. Musk has big commitments from Morgan Stanley and other prominent names in the financial institution pool. The SEC published the documents which helped Musk push back against rumors that he didn’t have enough liquid cash to make the deal a reality.
Twitter and its board originally implemented a poison pill that would put a stoppage to a takeover by making it too expensive for Musk. However, they recanted their actions and decided to meet with Musk once again, this time with open minds.
The board now apparently wants to know if there are any more active investigations into Musk from entities such as the SEC which could lead to the deal not being finalized. They are also weighing if Musk buying the company would be too much of a risk…
More to come in what could be such an eventful week!