Twitter to Accept Musk’s ‘best and final’ offer at $54.20 per share
- Telsa CEO may take over the microblogging site soon.
- The board reportedly looked set to accept Tesla CEO's offer of $54.20 per share.
- The tycoon's team were said to be hammering out terms and conditions for deal.
According to reports, Twitter may accept the offer put forth by the Tesla magnate. It is being speculated the billionaire will take over the company as soon as this morning as the board reportedly looked set to accept his offer of $54.20 per share.
It is being speculated that both the sides are hammering terms including a timeline and fees if an agreement was signed and then fell apart. The two sides have been decked up to finalize the ‘fluid and fast-moving’ negotiations.
The development comes after a fortnight after the automobile entrepreneur first sought to woo shareholders with his $54.20-per-share bid.
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.