If this deal happens, it will be one of the largest buyouts in corporate history
Twitter is set to accept, as early as Monday, an offer to sell itself to Elon Musk for $43 billion in cash, it was reported today., said the company “may announce the $54.20-per-share deal as soon as later today once its board has met to recommend the transaction to Twitter shareholders”—but added a note of caution, saying it was “always possible that the deal collapses at the last minute.”
The once far-fetched prospect of Musk taking control of Twitter as a private company follows several weeks in which the world’s richest man has publicly stoked speculation about his intentions, with a combination of overt statements and ambiguous tweets. When Musk first announced his intention to take the network private, he said that his $54.20-per-share was his “best and final” offer, and he has stuck to that price in a move that some observers have said recalls the take-it-or-leave-it approach championed by previous world’s richest man Warren Buffett.
Initially Twitter seemed poised to fight the takeover attempt with a “poison-pill” share offer that would have diluted Musk’s stake; however Reuters now says that the sale is likely to go ahead. It said a sale “would represent an admission by Twitter that its new chief executive Parag Agrawal… is not making enough traction in making the company more profitable.”
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