Twitter is about to be purchased for $43 BILLION. This was not expected by many.
Twitter reportedly is close to accepting Tesla and SpaceX CEO Elon Musk’s bid to buy the social platform for $30 per share, according to Bloomberg.
Twitter’s board reportedly met today to discuss Elon Musk’s $43 billion bid to take the social network private, according to a report. The meeting ended with the board recommending the transaction to shareholders of Twitter.
Twitter has agreed to Elon’s deal and published this in a news release Monday.
Get ready to see Elon Musk’s tweets everywhere. That is if it is not already happening.
Elon Musk is set to pull off the biggest acquisition of his career.
Last week, after Elon Musk tweeted that he wanted to take Twitter private, its shares immediately jumped 11% in after-hours trading.
That’s right — the man who is currently busy trying to get us all off fossil fuels might be interested in taking a major step into social networks by acquiring one of the most popular social networks in the world. We’ll see how this shakes out…
Sources told Bloomberg and Reuters that Twitter and Musk have been talking over the last few days and are close to finalizing a deal that would see the company go private and Elon Musk the new owner.
Some people don’t seem optimistic about the deal’s chances of success: “It’s not done yet and might not be done,” they said. “People change their minds etc. There’s no guarantee here at all.”
Twitter was initially reluctant to entertain the idea of selling, but after Tesla and SpaceX CEO Elon Musk hinted that he had funds readily available for the purchase, that opened the lines of communication for negotiation.
In all of this if you have Twitter shares you would be 5% richer as shares rose more than 5% premarket Monday.
Musk declined to grant Twitter a “go-shop” provision, which would have allowed the company to solicit other bids from potential buyers after the deal was signed, according to The Wall Street Journal.
What would this mean for Twitter users?
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