Earlier this month, it was revealed Elon Musk became Twitter’s largest shareholder after delivering some scathing criticism about the platform related to free speech. Since then, Musk offered to purchase the platform for $43 billion. According to reports, it seems Twitter may consider Musk’s offer.
Sources that spoke to Reuters went on to say Twitter may accept the offer from Musk once the board meets to recommend the transaction to their shareholders. It was noted the deal could still fall apart as the talks are fluid.
The report noted that Twitter could not secure a “go-shop” provision from Elon Musk, which would have allowed them to solicit bids from other potential buyers once the deal was signed. Despite that, Twitter would be able to accept an offer from another party by paying Elon Musk a break-up fee.
Along with this news, Musk reportedly met with shareholders this weekend and went over the details of his $54.20 share bid for Twitter. Because Musk reached out, this reportedly forced Twitter’s board of directors to seriously consider his offer. Stay tuned for more updates.
source: Reuters
