Twitter Inc is nearing a deal to sell itself to Elon Musk for $54.20 per share in cash, the price that he originally offered to the social media company and called his 'best and final', people familiar with the matter said.
Twitter may announce the $43 billion 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.
Twitter has not been able to secure so far a 'go-shop' provision under its agreement with Musk that would allow it to solicit other bids from potential acquirers once the deal is signed, the sources said. Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added.
Twitter and Musk did not immediately respond to requests for comment.
1725612926-0/Tribune-Pic-(8)1725612926-0-165x106.webp "article")
1727160662-0/Google-(2)1727160662-0-270x192.webp "us pushes to break up google calls for chrome sell off in major antitrust move")
1732085354-0/insta-(1)1732085354-0-270x192.webp "instagram now lets you reset your entire feed here s how")
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ