Twitter set to just accept Elon Musk’s ‘greatest and remaining’ supply: Report – Occasions of India

Twitter set to just accept Elon Musk’s ‘greatest and remaining’ supply: Report – Occasions of India

NEW YORK: Twitter Inc is nearing a deal to promote itself to Elon Musk for $54.20 per share in money, the worth that he initially provided to the social media firm and referred to as his ‘greatest and remaining’, individuals aware of the matter mentioned.
Twitter could announce the $43 billion deal afterward Monday as soon as its board has met to advocate the transaction to Twitter shareholders, the sources mentioned. It’s at all times doable that the deal collapses on the final minute, the sources added.
Twitter has not been in a position to safe to this point a ‘go-shop’ provision underneath its settlement with Musk that may permit it to solicit different bids from potential acquirers as soon as the deal is signed, the sources mentioned.
Nonetheless, Twitter could be allowed to just accept a suggestion from one other social gathering by paying Musk a break-up payment, the sources added.
Twitter and Musk didn’t instantly reply to requests for remark.

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