Elon Musk’s arrangement with Twitter is expected to be finalized soon.
According to persons familiar with the situation, Twitter Inc. is nearing a $43 billion sale to Elon Musk, which may be one of the most leveraged buyouts of a publicly traded firm ever.
According to the people, the social media business is working on hammering out the parameters of a deal and might strike an agreement as soon as Monday if negotiations go smoothly. According to one of the sources, Musk is lining up acquisition partners and continues to contact with potential co-investors.
The billionaire Tesla Inc. creator and Twitter’s board of directors discussed a $54.20 per share buyout overnight into the early hours of Monday, according to the sources. Twitter’s stock soared as much as 6.2 percent in pre-market trading in the United States on Monday, reaching a high of $51.98.
After the billionaire Tesla Inc. founder announced a funding plan for the unsolicited proposal that involved Morgan Stanley and other institutions, Twitter began to warm up to the idea of a possible deal. The situation is fluid, and talks might drag on or fall apart, according to the sources.
Twitter and Musk representatives did not immediately reply to calls for comment. According to the Wall Street Journal, the parties could strike an agreement as soon as this week, citing unnamed sources.
