They say it takes two to tango, and it finally appears as though Elon Musk has convinced the Twitter execs to dance with him. Though they initially dismissed his billion dollar attempts to purchase Twitter, the 11-member social media board may now be closing in on a deal to sell the company to Musk, its largest shareholder.
Per the Wall Street Journal, Musk and board members met Sunday to discuss a deal. Those discussions ran into the wee hours of Monday morning, and reports now indicate a deal is likely.
Musk originally made an offer of $43 billion dollars that the Twitter execs swiftly rejected. However, Musk then made another offer, which enticed Twitter enough to dust off their dancing shoes. This new and improved offer has been reported as $46.5 billion, including $25.5 billion in financing from Morgan Stanley and as well as others, according to OutKick’s Sam Amico .
This most recent offer must have struck the right note since a potential purchase was discussed in the Sunday/Monday sit down, as was scheduling the close to a potential deal and determining any fees that would be incurred should a signed deal go awry, per the New York Times.
BREAKING 🚨 Twitter is in deal talks with Elon Musk and could finalize a sale as soon as this week if talks don’t fall apart – WSJ
— Insider Paper (@TheInsiderPaper) April 25, 2022
Following meetings that commenced Friday, Lauri Brunner, a shareholder who manages Thrivent Asset Management LLC’s large-cap growth fund, spoke in favor of Musk’s bid, per the Wall Street Journal: “He has an established track record at Tesla. He is the catalyst to deliver strong operating performance at Twitter.”
As support for Musk’s purchase grows from within, the board will likely soon be faced with the choice to sit it out or dance.
I think I speak for most of us when I say, I hope they dance.
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