Recently, Elon Musk, one of the richest individuals globally, made an unexpected offer to buy all the shares of Twitter for $43 billion, aiming to take the company private. Musk had previously become a significant shareholder and almost joined Twitter’s board of directors before withdrawing from that opportunity.
Initially, Twitter was anticipated to reject the offer. However, after Musk disclosed that he had secured more than $46 billion in funding for Twitter’s potential new direction, the deal has become more enticing. Representatives from Twitter met with Musk over the weekend to discuss the specifics of a potential agreement. Although the status of the deal remains undisclosed, experts suggest that if Twitter decides to accept the offer, it will likely happen by the end of today.
Breaking: Twitter is in talks to sell itself to Elon Musk and could finalize a deal this week, people familiar said, after the company warmed up to the $43 billion bid. https://t.co/UBS47ODbLq
— The Wall Street Journal (@WSJ) April 25, 2022
Financial analysts on Wall Street, including Dan Ives from Wedbush, believe that this deal could mark “the beginning of the end for Twitter as a public company,” with Musk potentially moving closer to acquiring the company unless another bidder emerges. In anticipation of this potential sale, Twitter’s stock has surged by 4% as investors rush to make final purchases before Musk potentially secures the deal.
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