Twitter Board is seriously considering Musk’s Twitter buyout for $43 billion.
As per multiple reports, the Twitter board has conducted a fresh round of talks on Monday with Musk to negotiate the terms of the proposed deal
In an interesting turn of events, the Twitter board is currently contemplating Musk’s $43 billion Twitter buyout deal. The Wall Street Journal reports that the Twitter board had conducted a round of negotiations with Musk on Sunday and that the deal may finalize by the end of this week.
Twitter Contemplates Selling Itself To Musk
Musk’s impromptu SEC filing intended to buy Twitter for $43 billion is now being seriously considered by the Twitter board. Multiple reports suggest that the Twitter board of directors had conducted a round of negotiations with Musk on Monday to discuss the future of the proposed Twitter acquisition deal.
The company’s decision to interact with Musk does not necessarily mean that it is accepting Musk’s bid to buy Twitter shares for $54.20, sources told Reuters. However, it simply indicates that the company is exploring whether a sale of the company is possible on terms that are feasible or “attractive” for both parties.
According to the New York Times, the two parties met on Monday to discuss various aspects of the acquisition including a timeline to close a potential deal and any fees that would be incurred if an agreement was signed and then fell apart. The agreement is yet to be finalized and settled, however, multiple sources confirm that there has been slight progress concerning the said acquisition.
Musk recently shook the internet when he first revealed his intention of purchasing Twitter and taking it privately via an SEC filing on April 14. He later updated his proposal last week by outlining more details about the list of financial institutions backing his deal, including organizations such as Morgan Stanley.
Musk revealed his intention of buying Twitter earlier adding that he wants to make the platform more independent and liberal in terms of free speech. He later added that he wants to eliminate Twitter bots as well as introduce a feature that allows users to edit their tweets.
“If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin. A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter.” Musk later stated in a TED Conference