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Google PlayIt sounds like Twitter may be accepting Elon Musk’s offer after all.
Early Monday, Reuters reported Twitter Inc. was “poised to agree” to Musk’s offer of roughly $43 billion in cash. The deal, at least according to the report, could be announced as soon as Monday if all goes as projected. However, it’s also possible the deal could fall apart at some point in the final stretch.
Prior to the latest developments, Musk was reported to have arranged for financing in pursuit of the deal. A separate report from the New York Times, meanwhile, claimed Twitter’s board had been in negotiations with Musk “into the early hours of Monday” regarding his offer.
This month, Musk—Twitter’s biggest shareholder—made a buyout offer, saying in a letter to the Chairman of the Board he would “reconsider” his shareholder position should his “best and final offer” not be accepted.
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said at the time. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
The latest Musk news was linked to a bump in Twitter shares on Monday morning, with CNBC reporting an increase of four percent at the time of this writing.
Complex has reached out to a rep for Twitter for comment.
