Elon Musk made an offer earlier in April to buy Twitter. AOP
Twitter shares rose more than 4 percent in the upfront market as the company’s potential contract is a technology billionaire Elon Muskin with approaching. According to Reuters, the parties can reach an agreement as early as Monday.
Twitter’s board met on Sunday to discuss Musk’s financial plan for his proposed bid. The New York Times according to the government negotiated with Musk until Monday’s rush hours.
Musk offered earlier this month to buy Twitter for $ 54.20 a share, or about $ 43 billion. Musk has said from the beginning that the offer is his “best and last”.
The Wall Street Journal according to sources, there is no guarantee that the government and Musk will reach an agreement.
CNBC: n Twitter has so far failed to secure the terms of the contract with Musk, which would allow it to request further offers after the contract is signed.
That way, Twitter could still accept another offer if Musk paid the contract’s severance fee.
It initially looked like the Twitter board would reject the billionaire’s April 14 offer. However, when Musk revealed he had $ 46.4 billion in funding and the stock market “fainted,” Twitter decided to negotiate.
Known as an avid Twitter user, Musk has argued that the social media platform needs to be turned into a private company in order to become a forum for free speech. In addition, he has said that the interests of Twitter board members are not in line with shareholders.