Micro-blogging and social media platform, Twitter, is poised
to agree to a sale to Elon Musk, the Chief Executive Officer of Tesla, for
around $43 billion in cash.
Reuters reports that Twitter may announce the
$54.20-per-share deal later on Monday once its board has met to recommend the
transaction to Twitter shareholders.
It added that it was still possible the deal could collapse
at the last minute.
Musk, the world’s richest person according to Forbes, is
negotiating to buy Twitter in a personal capacity and Tesla is not involved in
the deal.
Recall that Musk has offered to buy Twitter for $43 billion
earlier this month.
Musk announced the offer in a filing with the U.S.
Securities and Exchange Commission.
The billionaire will offer 54.20 per share in cash,
representing a 54% premium over the January 28 closing price and a value of
about $43 billion.
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