Thursday, September 29, 2022

Twitter may be sold to Elon Musk today: Report

Twitter’s last official statement was that its board would explore options that were in the shareholders best interest.

• April 25, 2022
Elon Musk and Twitter
Elon Musk and Twitter

There are strong indications that Twitter would be sold to Tesla CEO Elon Musk today after a Sunday meeting with representatives of both companies ended on a positive note.

According to Bloomberg, the micro blogging platform is in its final stage of negotiations for the takeover proposal of Mr Musk.

Sources disclosed that the terms of the transaction are being drafted, stressing an agreement could be reached on Monday, as soon as negotiations were finalised.

This development comes shortly after Mr Musk announced he had secured $46.5 billion to buy the social media platform, causing Twitter executives to backtrack on its initial stance to fight off the takeover bid.

Twitter’s official statement as of Sunday night reads “As previously announced, the board is continuing to conduct a careful, comprehensive and deliberate review to determine the course of action in the best interest of the company and all Twitter stockholders.”

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