Twitter will have a new owner Elon Musk by Monday, sources revealed
Bloomberg News says that Twitter is in the final stages of talks to sell the company to Elon Musk, according to a source familiar with the situation. According to the person, the social media business is working to iron out transaction conditions and might strike a deal as soon as Monday if talks go well.
Mr Musk made the offer on April 14 without specifying how he would pay for it, and Twitter was anticipated to reject it, putting in place a so-called poison pill to prevent him from raising his stake. The Wall Street Journal claimed earlier Sunday that Twitter changed its stance and opened the door to negotiations after Tesla Inc. TSLA -0.37% CEO Elon Musk revealed that he has $46.5 billion in financing and the stock market swooned.
Mr Musk has insisted from the start that his $54.20-per-share offer is his “best and final,” and he has told Twitter Chairman Bret Taylor in recent days that he will not compromise on the price, according to some the sources. The two parties were scheduled to discuss matters such as what Mr Musk would pay if an agreed-upon agreement fell through before it could be completed.