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Twitter Eyes Deal With Elon Musk as Soon as Monday
Posted
April 25, 2022
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April 25, 2022
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2:54Now PlayingTwitter Inc. is in the final stretch of negotiations about a $43 billion sale to Elon Musk that could rank as one of the biggest-ever leveraged buyouts of a listed company, people with knowledge of the matter said.
The social media company is working to hammer out terms of a transaction and could reach an agreement as soon as Monday if negotiations go smoothly, according to the people, who asked not to be identified because the information is private. Musk is lining up partners for the acquisition and continues to speak to potential co-investors, one of the people said. The situation is fluid, and talks could drag on longer or fall apart.
Twitter’s board was negotiating with the billionaire Tesla Inc. chief executive officer on Sunday over terms of his unsolicited bid to buy Twitter for $54.20 per share, and talks continued overnight into the early hours of Monday, the people said. Shares of Twitter jumped 3.8% to $50.78 on Monday, still below Musk’s offer price, indicating lingering skepticism over the prospects of an acquisition succeeding, although analysts say it is becoming more likely.
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