Categories: Tech

Elon Musk close to Twitter purchase agreement

The agreement between Elon Musk e Twitter per the acquisition of the social network and his privatization it seems very close. According to sources following the negotiation, the billionaire and the eleven board members argued during the night. The announcement could be around the corner.

Elon Musk negotiates Twitter purchase deal

The news comes from the New York Times, which cites two people who are aware of the situation. According to them, Musk and the Twitter board of directors they discussed figures and late-night clauses between Sunday and Monday. The two sides would be negotiating a calendar to seal the sale, but also penalties if the deal does not go through.

The discussion comes after Musk has found the $ 46.5 billion to buy 100% of Twitter and withdraw the company from the market. Musk had already sent a letter to the administrators, proposing $ 54.20 per share (after buying 9% of the company at the beginning of the month). But the Board only started the discussion after having “seen the money on the table”.

The Board had also activated the option of “poisoned pill”To avoid Musk’s hostile takeover. One tactic that appears to have worked to convince Tesla’s CEO is to strike a deal with a private discussion.

Musk will ask $ 25.5 billion to Morgan Stanley, with the bank funding 13 billion and lending another 11 billion, using Tesla’s stock as collateral. Well 21 billion dollars will come from Musk’s personal finances instead.

According to Wall Street analysts, it looks like the firm will accept the acquisition unless a second buyer shows up later this week. But in all likelihood they will ask Musk to come up to $ 60 per share to close the game.

We will keep you updated on the developments of the situation.


The New York Times

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Walker Ronnie

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