It’s no secret that Elon Musk loves Twitter and recently it got a 9% stake in the social media company, becoming the highest individual shareholder. Though he originally rejected the offer to get into the board of directors, the Tesla maker is eyeing buying out the entire social media platform.
Musk made an original offer of $43 billion to buy out the company at $54.20-per-share but to counter this we were hearing rumors of Twitter implementing a ‘poison pill’ to limit Elon Musk from increasing his stake. Now, as per the latest Reuters report, the Twitter board might agree to the sale to Elon Musk for around $43 billion in cash.
It is being said that later today the Twitter board could have a meeting to recommend the transaction to Twitter shareholders, however, there could be a chance that the deal might collapse. While Elon has a great reputation in silicon valley after he successfully created companies like Tesla, The Boring Company, SpaceX, and many others, his love for Twitter have always been reflected in his tweets.
Being crowned as the richest man on Earth recently by Forbes, he could end up buying Twitter on his own without involving Tesla in this. However, the process of this buy-out seems to be complex as anyone could also pour in money against Elon, and the sole decision to hand over Twitter to Musk will be ruled by its shareholders.
