Twitter could be in the hands of Tesla and SpaceX CEO Elon Musk – the richest person in the world – by the end of Monday, April 25th, which is today, according to a new report.
Following his letter to the Twitter board, CEO of both Tesla and SpaceX Elon Musk has been eyeing a bid offer to acquire Twitter for $54.20 per share in cash or the equivalent of $43 billion. Earlier, Musk purchased 9.2% of Twitter’s shares for roughly $3 billion, making him one of the largest shareholders in the company.
Today, a report from Bloomberg has claimed that the deal is close to being reached, within hours the company will be owned by the richest person in the world:
“Twitter is in the final stretch of negotiations about a sale to Elon Musk, a person with knowledge of the matter said, Bloomberg News reports. The social media company is working to hammer out terms of a transaction and could reach an agreement as soon as Monday if negotiations go smoothly, according to the person.”
The San Francisco-based social and micro-blogging platform has been concerned by Musk’s quick takeover from purchasing $3 billion worth of shares to negotiating on the future ownership of the company.
Following his 9.2% purchasing stake, Twitter CEO Parag Agrawal invited Musk to join the Twitter board. However, the Tesla CEO rejected this offer, teasing the much larger role he plans to perform.
One of the major shareholders, Saudi prince, businessman, and billionaire – Al Waleed Bin Talal rejected Musk’s bid by saying “I don’t believe that the proposed offer by Elon Musk ($54.20) comes close to the intrinsic value of Twitter given its growth prospects.”
Just hours ago, The Wall Street Journal published a report stating that Musk and Twitter’s board met yesterday and negotiated a $43 billion deal in which Musk will purchase 100% of the company:
“The potential turnabout on Twitter’s part comes after Mr. Musk met privately Friday with several shareholders of the company to extol the virtues of his proposal while repeating that the board has a “yes-or-no” decision to make, according to people familiar with the matter. He also pledged to solve the free-speech issues he sees as plaguing the platform and the country more broadly, whether his bid succeeds or not, they said.”