Reports have suggested that Twitter will accept Elon Musk’s $43 billion buyout offer later today.
According to Bloomberg, sources say that the social media company is in “the final stretch of negotiations” with Musk for a $43 billion sale. Twitter is apparently finalizing terms for the transaction, and that could be completed today should everything “go smoothly.”
— Bloomberg (@business) April 25, 2022
The Wall Street Journal reports that Twitter and Musk met on Sunday to discuss the Tesla and Space CEO’s offer. The WSJ report, published on April 24, suggested that there was no guarantee that a deal would be reached, but today Bloomberg’s sources seem to claim that a deal will indeed go through.
These events follow Twitter putting together a “shareholders rights plan” in an effort to block Musk’s gargantuan offer. At the time, that was the culmination of a series of events that began when Musk purchased just over 9% of Twitter in shares, becoming the social media company’s largest shareholder. He was then offered a seat on Twitter’s board of directors, but Musk turned the proposal down. His next act was to offer to buy the entire company for $54.20 per share in cash.
Matt Purslow is IGN’s UK News and Features Editor.