(2022-04-24) Twitter Nears A Deal To Sell Itself To Elon Musk

Twitter Nears a Deal to Sell Itself to Elon Musk (Musk Buys Twitter) Twitter’s 11-member board met on Sunday morning to discuss Mr. Musk’s offer to buy the company and take it private.

The board of the social media service met on Sunday morning to discuss Mr. Musk’s unsolicited $46.5 billion bid to buy the company, after he began lining up financing for his offer last week, two people with knowledge of the situation said. The financing was a turning point for how Twitter’s board viewed Mr. Musk’s bid of $54.20 a share, enabling the company’s 11 board members to seriously consider his offer, the people said

Any deal remains far from certain, but the willingness of Twitter’s board to engage with Mr. Musk, the world’s richest man, represents a step forward

declared his intent to buy the company on April 14 and take it private. But his proposal was quickly dismissed by Wall Street because it was unclear if he could come up with the money to do the deal. Twitter also adopted a “poison pill,”

Mr. Musk updated his proposal last week, putting pressure on Twitter to more seriously consider his bid.