Elon Musk’s offer to buy Twitter for $54.20 per share has been accepted, according to reports.
Bloomberg reports that if negotiations go well, a deal might be achieved today.
Last week, it was reported that Mr Musk had obtained finance for the sale, following his purchase of more than 9% of Twitter on April 9, making him the company’s largest stakeholder.
Musk made an offer to buy the social networking site for $43 billion on April 14th. According to records filed with the US Securities and Exchange Commission, the billionaire has pledges from Morgan Stanley and other financial institutions, putting to rest rumors that he didn’t have enough liquid cash to close the acquisition.
Twitter had originally implemented a poison pill anti-takeover measure that might thwart a takeover effort by making it excessively expensive, but it appears that the company opted to negotiate after receiving an amended proposal from Mr Musk.
The board reportedly wants to know if there are any ongoing investigations into Mr Musk by regulators such as the SEC that may prevent the purchase from going through, and if Mr Musk purchasing the firm would be too risky, there could be a break-up fee for Twitter.
