Report: Twitter Looks Ready to Accept Musk's Buy-out

Brittany M. Hughes | April 25, 2022
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Elon Musk may have just worked out a deal that could end with him owning Twitter, according to reports published Sunday.

Bloomberg states the social media giant was "more receptive" to Musk's multi-billion-dollar offer to buy the company after the two parties held a meeting Sunday, where Musk reportedly detailed the $43 million in financing he's been able to secure through his own personal funds and backing from Morgan Stanley. The report adds that "[a] deal could be finalized as soon as this week, the [Wall Street] Journal reported, citing people familiar with the matter."

The company had previously opted to adopt a "poison pill" solution to keep Musk from buying the company after the pro-free speech billionaire offered more than $40 billion in cash to purchase it outright. The method involves diluting the company's stock by offering other shareholders the chance to buy more at a discounted rate if any one shareholder acquires more than 15% of the company, making it more difficult and expensive to buy the whole thing.

Since then, Musk has accused the company of not acting in the best interest of its shareholders, and has reportedly reached out to individual Twitter shareholders in a video call, per the Wall Street Journal.


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