Twitter is reportedly on pace to accept Elon Musk’s offer to buy out the social media platform.
Elon Musk previously hinted at buying out Twitter. Some didn’t think it would happen, while others encouraged the thought of the Tesla CEO taking over the platform in support of free speech. Earlier this month, he became the largest shareholder after purchasing 9.2% of the company for $2.89 billion.
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According to reports from Reuters and Wall Street Journal, he might soon be shelling out even more dough to secure the purchase of the platform in its entirety. Sources close to the situation said that Twitter is close to finalizing a deal with Elon Musk who offered to pay $54.20 per share in cash. Overall, it would value Twitter at $43 billion.
Before finalizing the deal, Twitter’s board will meet with shareholders to encourage the transaction to move forward. However, there’s still a chance that the potential acquisition could fall through. If it does move forward, there’s reports that the announcement could be made before the end of the day on Monday.
Despite being one of the most popular figures on Twitter, he’s also remained quite critical of the platform. Along with questioning whether Twitter respects the right to free speech, he’s also stated that he wants to make a concerted effort against combatting troll accounts. He also said he wanted to introduce changes to Twitter Blue, a subscription-based service.
We’ll keep you posted on more details surrounding Musk’s deal with Twitter.
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