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Twitter poised to accept Musk’s $43bn offer, sources say

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Twitter may announce the $54.20-per-share deal later on Monday once its board has met, people familiar with the matter say

Elon Musk says he wants to take Twitter private. REUTERS/Dado Ruvic/Illustration/File Photo

Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said. It is always possible that the deal collapses at the last minute, the sources added. Twitter has not been able to secure so far a ‘go-shop’ provision under its agreement with Musk that would allow it to solicit other bids once the deal is signed, the sources said. Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added.

The deal would come just four days after Musk unveiled a financing package to back the acquisition. This led Twitter’s board to take the deal more seriously and many shareholders to ask the company not to let the opportunity for a deal to slip away, Reuters reported on Sunday.

 

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