According to a recent story from Reuters, Twitter may announce its acceptance of Elon Musk’s $43 billion purchase offer as soon as Monday.
Two weeks after buying a 9.2% interest in Twitter, Tesla and SpaceX CEO Elon Musk made his “best and last” offer to acquire the microblogging service.
According to Musk, Twitter is worth $54.20 a share in Musk’s proposed $43 billion acquisition, for which he has reportedly secured funding.
To avert a hostile takeover, the business even adopted a “poison pill.” Early reports indicated that Twitter was not interested in accepting the offer.
A meeting of the board of directors is scheduled for Monday to “recommend the deal” to Twitter shareholders, according to reporting from Reuters. The report warns, however, that the arrangement could yet fall apart “at the last minute.”
Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said. It is always possible that the deal collapses at the last minute, the sources added.
A “go-shop” option in the agreement between Twitter and Tesla CEO Elon Musk has not been secured, according to Reuters.
Once a deal with Musk is finalized, the corporation would be allowed to “solicit alternative bids,” although that condition is not already contained in the agreement that was inked.
After today, Twitter’s decision on whether or not to accept Musk’s purchase bid could be made public. “Thrive” is the word Musk has used to describe how he thinks Twitter should be taken private.
I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.
However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.
