Twitter is nearing a deal to promote itself to Elon Musk for $54.20 per share in money, the value that he initially provided to the social media firm and known as his ‘greatest and remaining’, individuals conversant in the matter stated.
Twitter might announce the $43 billion deal in a while Monday as soon as its board has met to advocate the transaction to Twitter shareholders, the sources stated. It’s all the time doable that the deal collapses on the final minute, the sources added.
Twitter has not been in a position to safe up to now a ‘go-shop’ provision beneath its settlement with Musk that might enable it to solicit different bids from potential acquirers as soon as the deal is signed, the sources stated. Nonetheless, Twitter can be allowed to just accept a proposal from one other get together by paying Musk a break-up price, the sources added.
Twitter and Musk didn’t instantly reply to requests for remark.
© Thomson Reuters 2022
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