13.2 C
Wednesday, March 22, 2023
nord vpn

Twitter to Accept Elon Musk’s $43 Billion Takeover Offer

Twitter Inc is close to agreeing to sell the social media business to Elon Musk for roughly $43 billion in cash, the sum Elon Musk, the CEO of Tesla Inc, has described as his “best and last” offer for the company, according to individuals familiar with the issue.

Twitter may announce the $54.20-per-share agreement later Monday, sources said, when its board of directors meets to endorse the transaction to Twitter shareholders. The sources cautioned that the arrangement may potentially collapse at the last minute.

Mr. Musk, the world’s wealthiest person according to Forbes, is negotiating to acquire Twitter on a personal basis; Tesla is not a party to the transaction.

According to the sources, Twitter has been unable to get a ‘go-shop’ provision in its agreement with Mr. Musk that would allow it to solicit more bids once the contract is completed. However, Twitter would be permitted to accept an offer from another party in exchange for paying Elon Musk a break-up fee, according to the sources.

Twitter shares were up 4.5 percent to $51.15 in New York pre-market trade on Monday. Mr. Musk has stated that Twitter must be privatized in order to flourish and develop into a genuine forum for free speech.

Elon Musk announced the agreement just four days after announcing a financing package to support the acquisition. This prompted Twitter’s board of directors to take the purchase more seriously and many shareholders to urge the firm not to let the deal chance pass them by, Reuters reported on Sunday.

The sale would be an admission by Twitter that its new CEO Parag Agrawal, who joined the helm in November, is not making enough progress toward profitability, despite the fact that the business is on schedule to fulfill its lofty financial targets for 2023. As recently as November, Twitter’s shares were trading above Mr. Musk’s offer price.

Apart from this. if you are interested, you can also read EntertainmentNumerologyTech, and Health-related articles here: Yellowstone season 5Ozark season 4 part 2PUBG Redeem CodeIs Windows 11 FreeKProxyHow to play Xbox Games on PCOzark Season 5How to cancel YouTube TVChurchill Car insuranceThe Rookie Season 5DownloadhubSsr Movies7starhdMovieswoodHow to Remove Bookmarks on MacOuter Banks Season 4How to block a website on ChromeHow to watch NFL games for freeDesireMovies, How to watch NFL games without cableHow to unlock iPhoneHow to cancel ESPN+How to turn on Bluetooth on Windows 10Outer Banks Season 3

6streams4AnimeMoviesflix123MKVMasterAnimeBuffstreamsGoMoviesVIPLeagueHow to Play Music in DiscordVampires Diaries Season 9Homeland Season 9Brent Rivera Net WorthPDFDriveSmallPDFSquid Game Season 2Knightfall Season 3CrackstreamKung Fu Panda 41616 Angel Number333 Angel Number666 Angel Number777 Angel Number444 angel numberBruno Mars net worthKissAnimeJim Carrey net worthBollyshareAfdahPrabhas Wife NameProject Free TVKissasianMangagoKickassanimeMoviezwapJio RockersDramacoolM4uHDHip DipsM4ufreeFiverr English Test AnswersNBAstreamsXYZHighest Paid CEOThe 100 season 8, and F95Zone

Thanks for your time. Keep reading!

Subscribe to Our Latest Newsletter

To Read Our Exclusive Content, Sign up Now.
$5/Monthly, $50/Yearly



Bill Gates Cites These Hazards and Potential Benefits of AI

AI is changing our lives in more ways than...

Why a Plastic-free Ocean is Essential for Animal Wellbeing?

Humans have long been fascinated with the ocean's beauty...

7 Sick Last-Minute Halloween Costume Ideas

If you still haven’t planned your Halloween outfit, you’re...

Peel, Stick, Wow! 10 Eye-Catching Peel and Stick Wallpaper Designs

Peel and Stick Wallpaper is the perfect way to...

Bing Image Creator: Microsoft New AI Tool to Turn Text into Images

As users have grown more visual, more tools are...