Twitter's board is in talks with CEO Elon Musk over his bid to buy the platform and a deal could be announced as early as Monday, according to reports.
over his bid to buy the social media platform and a deal could be announced as early as Monday, according to media reports., The New York Times reported, less than two weeks after the billionaire first revealed a massive stake.to buy Twitter, putting pressure on the company’s board to negotiate a deal.
Tesla CEO Elon Musk offered to buy 100% of Twitter for $54.20 per share and to take the social media company private, according to an SEC filing. The deal would cost him more than $43 billion and he says, if it's not accepted, he'd have to reconsider his position as a shareholder.that could make a takeover attempt prohibitively expensive.
"The Twitter Board could not find a white knight and with Musk’s financing detailed the clock has essentially struck midnight for the board which is why negotiations have begun to get a deal done," said Dan Ives, who follows Twitter for Wedbush Securities. Last week, he said 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 car maker.Musk has said he wants to buy Twitter because he doesn't feel it's living up to its potential as a platform for free speech.Here's a look back at some of the notable business ventures by Elon Musk, who has quickly risen in the ranks of the wealthiest men in the world.
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