77 F
New York
Tuesday, June 28, 2022

Twitter Could Reportedly Accept Elon Musk Buyout Today

Must Read
lifeadmin
lifeadminhttps://onenews.life
OneNews provides trusted World and US news as well as local and regional perspectives.

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.

Read More

- Advertisement -spot_img
- Advertisement -spot_img
Latest News

Hurricanes, Rangers each bring confidence, promising history into Game 7

RALEIGH, N.C. -- Recent history would say one thing: The Carolina Hurricanes are going to win Game 7 of...
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img