According to Reuters, which claims people familiar with the situation, Twitter is likely to accept Elon Musk's 'best and final' offer and sell itself to the world's richest man.
Musk had bid $54.2 per share for the microblogging network, and Twitter might announce the $43 billion takeover in the coming hours if its board receives the required approval from other shareholders.
The Twitter-Musk agreement is virtually complete, but there's a chance it could go apart at the last minute.
Companies sign the agreement but also look for bids from other potential acquirers during hostile acquisitions. Musk, on the other hand, has yet to agree to such a clause. Twitter would have to pay Musk break-up fee if it accepts a bid from another buyer.
Musk secured $46.5 billion in financing, according to a document he made with the US Securities and Exchange Commission last week.
According to reports, the whole sum includes $25.5 billion in Morgan Stanley loans and $21 billion in equity investment, which includes $10-$15 billion of his own funds.
The precise specifics, on the other hand, will almost certainly be exposed when Twitter reports results on Thursday.
Elon Musk wants Twitter to be seen as a place where people can express themselves freely. He remarked earlier this month: "I invested in Twitter because I believe it has the potential to be a free expression platform... Free expression, in my opinion, is a fundamental requirement for a functioning democracy."
Musk will also bring changes related to profile verification and plans to cut the board of directors' salary to $0.
Follow the latest news on Google News
