According to a report, Tesla CEO Elon Musk’s $43 billion buyout offer to take the social networking firm private is nearing acceptance on Twitter.
Sources close to the situation said that Twitter will announce the $54.20-per-share acquisition at some point soon, after its board meets to recommend the transaction to shareholders, but according to sources, it is still possible the deal could fall apart in the final minutes.
According to the sources, Twitter was unable to obtain a “go-shop” clause in its agreement with Musk that would enable it to seek competing offers once the transaction is closed.
Nonetheless, Twitter is permitted to accept a competing offer and pay Musk a break-up fee, according to the sources, who asked not to be identified due to the sensitivity of the situation.
Previously, Twitter appeared to be against Musk’s takeover bid, with the firm outlining a “poison pill” plan to block his offer. However, Musk subsequently revealed financing arrangements for $46.5 billion in funding to buy Twitter, which may have persuaded the company’s board to reconsider his offer.
Dan Ives, a Wedbush analyst, predicted that news of the deal would be interpreted by Wall Street as “the start of the end for Twitter as a public corporation,” with Elon Musk likely now on the road to buy the firm unless another bidder enters the equation.
“The board may formally reject Musk’s offer, and a hostile bid is expected to begin this week, putting added pressure on the board as they’re backed against the wall in this epic battle for Twitter,” Ives added.
Meanwhile, liberals are freaking out about the possibilities of what could happen should Elon Musk takeover a censorship-happy social media company. What will happen if the censorship that plagues Twitter is finally undone and conservatives can finally speak their minds freely.
We can only imagine it would be D-day for Democrats and liberals given their clear aversion to the truth and their sensitivity to right-wing facts.
Of course, as with anything, until this happens, it is all nothing but talk.
These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.
To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].
Family-Friendly Content
Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More
These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.
To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].
Family-Friendly Content
Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More
