Posted on 04/25/2022 6:12:52 AM PDT by SeekAndFind
NEW YORK, April 25 (Reuters) - Twitter Inc (TWTR.N) is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the chief executive of Tesla Inc (TSLA.O) has called his "best and final" offer for the social media company, people familiar with the matter said.
Twitter may announce the $54.20-per-share 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.
Musk, the world's richest person according to a tally by Forbes, is negotiating to buy Twitter in a personal capacity and Tesla is not involved in the deal.
Twitter has not been able to secure so far a 'go-shop' provision under its agreement with Musk that would allow it to solicit other bids once the deal is signed, the sources said. Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added. The sources requested anonymity because the matter is confidential. Twitter and Musk did not immediately respond to requests for comment.
Twitter shares were up 4.5% in pre-market trading in New York on Monday at $51.15.
Musk has said Twitter needs to be taken private to grow and become a genuine platform for free speech.
The deal would come just four days after Musk unveiled a financing package to back the acquisition.
(Excerpt) Read more at reuters.com ...
I don’t think he is a Trump “supporter” but I don’t think he is actively a person who is opposed or filled with hatred about him. I don’t know that he has ever stated a forceful opinion about Trump. He is kind of an old school liberal. He seems to value freedom. He has made comments favorable to the oil industry when he said gas powered cars would stick around for some time to come (by saying electrification won’t happen overnite and must be affordable). He has also been critical of cancel culture and the silencing of conservative opinions. He has criticized CNN and the entertainment industry for promoting “woke” views.
He may be a “closet” conservative. It drives the Left nuts that he is too rich and too smart to be cancelled. That’s why I like the guy. LOL
How many billion does Musk have?
RE: How many billion does Musk have?
Forbes and other financial sites tell us that he is currently the richest man in the world with an estimated net worth of $250 BILLION Dollars.
Jack Dorsey Could Receive $978M and Parag Agrawal $39M in Elon Musk Twitter Purchase
Anyone who owns Twitter stock stands to gain.
Hopefully Agrawal will take his winnings back to Old Deli.
Heh, good for you...I have never used it or had an account, nor Facebook either, although I had friends set up a Facebook account in my name titled something like “Where is rlmorel??
As you say, let the games begin!!!!
He certainly is not an asset to America. The article said he has a large golden parachute by contract as do several others.
Wow.. Buying Twitter will take a big chunk of that $250 Billion.
Musk is borrowing 25b as part of the deal.
RE: Wow.. Buying Twitter will take a big chunk of that $250 Billion.
Musk isn’t going to spend $43 billion of his own money, he has other partners. And $43 bil. is just 16% of his wealth, so there’s that.
It will be interesting to see how this works out. Obviously Musk (and his financiers) are paying a big premium to the previous trading price. Since Tweater is basically an “intellectual property” kind of thing, it’s not set up to do the typical “loot and pillage” that venture cap typically does with manufacturing companies.
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