Shares of Twitter added to recent gains and jumped over 3% amid reports that the social media company is in advanced talks to sell itself to Tesla billionaire Elon Musk.
that the company’s board of directors have been negotiating with Musk over his buyout offer.
Twitter’s board is considering accepting Musk’s original offer of $54.20 per share in cash, which values the company at around $43 billion, and looks to be nearing a deal to sell the company, several publications have reported. Twitter’s board reportedly met on Sunday to negotiate Musk’s offer and a formal announcement about a deal is now expected by later on Monday,Twitter was until recently expected to decline Musk’s offer to buy the company and take it private, having adopted a so-calledBut the board now appears to be more receptive to Musk’s acquisition offer, especially after the Tesla billionaire revealed in an SEC filing last week that he hadThe latest reports may be a “turning point” and “likely came from the...
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The trade in Twitter shares from here with Musk buyout chances increasingTwitter's stock is still trading below Elon Musk's offer price of $54.20 per share even as reports indicate the sides are getting close to a deal.
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