ITS HAPPENING ELON MUSK AND TWITTER ARE IN FINAL STRETCH FOR DEAL

Written by on April 25, 2022

ITS HAPPENING ELON MUSK AND TWITTER ARE IN ‘FINAL STRETCH’ FOR DEAL

Shared By Peter Boykin – American Political Commentator / Citizen Journalist

 

Twitter is in the final stretch of negotiations about a sale to Elon Musk and could reach a deal according to an early-morning report from Bloomberg News.

Back up: Arriving at this point has been a roller coaster ride:

April 14: Musk unveils his $43 billion dollar bid to buy Twitter

April 15: Twitter’s board adopted a “poison pill” strategy to block Musk

April 21: Musk disclosed he had $46.5 billion in financing, half in bank debt and half in cash

Both sides met to discuss Musk’s proposed take-over and were making progress, according to the Wall Street Journal.

Twitter shares surged 6% in the pre-market session based on the news that Musk and Twitter could reach a deal.

Caveat: This move could just be to save face. The Twitter board has been accused of not working in the best interest of its shareholders. So they could be trying to appear to at least be entertaining Musk’s offer.

According to Reuters:

Twitter is “worried that its negotiating hand would weaken considerably if it was shown to be going against the will of many of its investors.”

Nothing is final. But things are certainly getting interesting.

 

[Source: Bloomberg, ZeroHedge, WSJ, Waking Up Right]

 

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