After voicing objections earlier, Twitter’s board may have agreed to a deal under which Elon Musk would acquire the company for $43.4 billion by the end of Monday. That would equate to $54.20 per share compared to the current spot price of $50.36.
Specifically, the social media company Twitter is working to hammer out the terms of a transaction, and an agreement could be reached as soon as Monday if negotiations go smoothly, according to people who asked to remain anonymous. name because the information is private. Musk is arranging partners for acquisitions and continues to talk to potential investors, one of the people said.
Discussions between Tesla’s executives and Twitter’s board about a takeover at $54.20 per share continued overnight into early Tuesday, the people said. Shares of Twitter rose 3.9% to $50.84 in New York trading.
Twitter began kicking off a potential deal after Elon Musk revealed financing plans for the acquisition that included backing from Morgan Stanley and other entities. These people said the situation was going smoothly and that the negotiations could take longer or break down. Representatives for Twitter and Musk did not immediately respond to the above reports and do not have specific information about the transaction.
Elon Musk is best known for his fondness for Dogecoin (DOGE) and his criticism of environmental issues directed at Bitcoin (BTC). DOGE is up 5% on the day at press time trading at $0.14.