Exclusive-Twitter set to accept Musk’s ‘best and final’ offer-sources -Breaking
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© Reuters. FILE PHOTO – This illustration shows the Twitter app on a smartphone, taken 13 July 2021. REUTERS/Dado Ruvic/Illustration/File PhotoNEW YORK (Reuters) – Twitter Inc (NYSE) is close to a deal to be sold to Elon Musk. It will cost $54.20 per Share in Cash. That’s the amount he initially offered to the social media firm and called his “best and last”, according to people who were familiar with the matter.
The sources indicated that Twitter could announce the $43 Billion deal on Monday after its board meets to recommend it to shareholders. The sources said it’s possible for the deal not to go through, but that is also possible.
According to sources, Twitter is unable to obtain a “go-shop” provision in its deal with Musk which would permit it to seek other bids from prospective acquirers. According to sources, Twitter can still accept an offer from another party if it pays Musk a breakup fee.
Twitter and Musk have not yet responded to comment requests.
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