EXCLUSIVE Twitter set to accept Musk's $43 billion offer - sources

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. This led Twitter's board to take the deal more seriously and many shareholders to ask the company not to let the opportunity for a deal to slip away, Reuters reported on Sunday.

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Comments (8)

Well Willy there are days that I don't get that much for pocket money...........unreal....................wave
'THAT'S WHAT FREE SPEECH MEANS:' ELON MUSK ADDRESSES WORST CRITICS AHEAD OF ANNOUNCEMENT, IMPLIES DEAL'S DONE

gonna get interesting now,TruthSocial is poised to expand operation as well!
laugh laugh laugh
If this wind of change holds up we might even be allowed to
continue to speak freely here ...lol wohoo cheers
If he has any left maybe he can buy out CS. rolling on the floor laughing
that depends largely on the Advertisers!laugh
He has about $3billion, that's liquid. He'll have to finance the other $40billion or sell Tesla shares. Maybe that's why Tesla was down so much today.
Hahaha, that'd be a change.
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Willy3411

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Retired old guy. Loves sports, music, and karaoke. Not shy about singing.Love to travel. Love to go to beaches and warm weather outdoor events. U.S. Air Force Veteran. I am here for the blogs. I am an amputee. My lower leg is gone.

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