Twitter board close to finalising $43bn sale to Elon Musk
Twitter may announce the sale later today
Elon Musk says it is a “best and final” offer of $43bn. Photograph: Hannibal Hanschke/Reuters
The board of Twitter is understood to be close to finalising a deal to sell the social media platform to billionaire Elon Musk, the world’s richest man.
Reuters reported on Monday that the company is nearing a deal to sell itself for $54.20 per share in cash, the price that he originally offered and called his 'best and final', people familiar with the matter said.
Twitter may announce the $43bn deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said.
It is always possible that the deal collapses at the last minute, the sources added.
Twitter had kicked off deal negotiations with Musk on Sunday after he wooed many of the social media company's shareholders with financing details on his $43bn acquisition offer, people familiar with the matter said.
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