Elon Musk close to Twitter takeover deal, according to person briefed on discussions. Decision could be announced Monday.
Musk earlier on Monday hinted that a deal was close, laying out his vision for the future of Twitter in a midday tweet.
“I hope that even my worst critics remain on Twitter, because that is what free speech means," he wrote.— Elon Musk Twitter shares spiked 5 percent in premarket trading on reports the company’s board could sign off on a deal with the Tesla CEO as soon as Monday. The company’s board of directors met with Musk on Sunday, and negotiations extended into the early hours of Monday, according to the person. The two sides were focused on determining whether Musk had the financing to complete the acquisition.
Twitter had seemed poised to reject the Tesla CEO’s unsolicited offer of $54.20 a share for the social media platform. Then Musk outlined his financing, saying hethough bank loans and his own equity. Those details seemed to lend more credibility to his bid. Musk had also met privately with several large Twitter shareholders in recent days, with some expressing their support for his bid, according to a person briefed on the discussions who was not authorized to speak about them.If the deal goes through, it would put Twitter in the hands of the world’s richest man and one of its most popular users, with more than 83 million followers.
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