Twitter is poised to accept Elon Musk's bid to purchase the remaining shares of the company


It appears as if the drama between Elon Musk and Twitter's board of directors is coming to a halt soon, and it will likely end with Musk being the sole owner of the company.


The price is expected to be around $43 billion which Musk says he will be able to pay in cash. Twitter is expected to announce the deal once shareholders are recommended the sell option, which would price their shares at a premium of $54.20 per share. There is however always the possibility that shareholders do not want to sell.


Twitter has not been granted a 'go-shop' provision that would allow Twitter to solicit offers for the company once Musk and their side come to an agreement. The agreement does however include a provision that would allow them to accept an offer with a fee being paid out to Elon.


Musk plans on taking the company private, in hopes to grow and 'become a genuine platform for free speech.' Twitter moving in haste comes four days after Elon announced how he was planning to finance the purchase, which reportedly made shareholders view the bid as credible. Some even said they do not want to let this opportunity slip away.


SOURCES:

Twitter set to accept Musk's original $43 bln offer



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