Microblogging site Twitter Inc is likely to accept Elon Musk’s offer to buy the company worth $41 billion, and is likely to seal the deal by May 2, Bloomberg reported citing a source.
The report 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.”
On April 14, the Tesla CEO offered to buy the microblogging site worth $41.39 billion. According to the regulatory filing, Musk offered $54.20 per share, at a 38 per cent premium to the closing price of Twitter’s stock on April 1, the last trading day before Musk bought the majority stake in the company.
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In a letter to Twitter Chairman Bret Taylor, Musk said, “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.” The SpaceX and Tesla CEO currently holds a 9.2 per cent stake in the company, as the second-largest shareholder of Twitter.
