Everything seems to be moving towards Elon Musk buying Twitter for $43,000 million. Over the weekend, negotiations between the parties advanced to such an extent that the acquisition can be completed today. As reported bloombergwhether the business closes this Monday will depend on how quickly an agreement is reached on the terms of the deal.
The aforementioned report also mentions that the dialogue between Elon Musk and Twitter board members continued early this morning. Anticipation around a possible announcement sent the social network’s share price up grew by 6.2% before the opening of US markets; thus the price was $51.98, still below the $54.20 offered by the businessman for each.
What changed Twitter’s view of a possible acquisition? Details are scarce yet, but what would play a key role in this story is Elon Musk confirming to the SEC that he has the funding to move the proposal forward. Recall that the CEO of Tesla and SpaceX received $46.5 billion to make a purchase offer backed by Morgan Stanley and other companies.
For now, the story seems to lead to only one ending: Elon Musk gets away with it and gets his hands on Twitter. However, it is also mentioned that negotiations might fall at the last minute.
In accordance with Reuters, Twitter failed to provide the ability to “shop”; that is, to be able to request other proposals even after signing an agreement with Musk. However, the social network could accept a higher offer if he paid the tycoon a certain amount to break the existing connection.
Twitter could be taken over by Elon Musk in the coming hours
The romance between Twitter and Elon Musk has kept us alert and busy in recent weeks. Since the businessman acquired 9.2% of the social network — briefly a majority shareholder — there have been many twists and turns regarding his plans and his hypothetical role in the company.
The tycoon was going to join the board of directors of the company, but in the end it was ruled out. is that the inclusion in board from twitter Tied Elon Musk hand and foot for any plans he might have to take over the company in a hostile manner. And the subsequent official offer to buy plus the activation of the “poison pill” was nothing more than confirmation of this.
Since then ego war unleashed between the current leaders of the social network and Musk, which even caused dissatisfaction with the founder of the company, Jack Dorsey. However, if what happened over the weekend is definitive proof that both sides have abandoned their most belligerent stances.
It is not yet possible to assume that Elon Musk will become the next owner of Twitter. but all indications are that this outcome will be inevitable. If everything goes well in the negotiations, we may have important news before the end of the day; although it is possible that there will be more news on Thursday, when the social network will present the financial results of the first quarter.
Source: Hiper Textual
