Twitter Close to Accepting Elon Musk Buyout Offer After Billionaire Secures Financing
By Fox Business // April 25, 2022
Buyout offer reportedly worth $43 Billion
ABOVE VIDEO: House Republicans ask Twitter to preserve Elon Musk’s takeover bid records
(FOX BUSINESS) – Initially hostile to the idea of Tesla CEO Elon Musk taking over Twitter, the company is reportedly warming up to the idea after the billionaire said last week he had secured the necessary $43 billion in funding.
Sources familiar with the matter told The Wall Street Journal that Twitter is taking another look at the deal and may be closer to negotiating, given how quickly Musk was able to secure financing.
Still, any final deal is far from conclusive. Both sides were expected to meet Sunday to discuss the situation in more detail.
Musk announced an offer last week to buy the social media platform for $54.20 per share, but did not say how he would finance the acquisition.
Musk said Thursday in documents filed with U.S. securities regulators that the money would come from Morgan Stanley and other banks, some of it secured by his huge stake in the electric carmaker.
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