Twitter is reportedly preparing to accept a $54.20 per share offer from Tesla owner Elon Musk. According to Bloomberg, the deal could be struck today if things go smoothly. It was reported last week that Elon Musk had allocated funds for the deal after buying more than 9% of Twitter shares.
Elon Musk became the largest shareholder in the company after buying more than 9% shares on April 9.
On April 14, Elon Musk announced an offer to buy the social media platform for $43 billion.
Elon Musk said he had agreements with Morgan Stanley and other financial institutions, according to documents released by the US Securities and Exchange Commission. Which, of course, made the video an overnight sensation.
Twitter has launched an anti-takeover initiative known as Poison Pill. This move makes the deal more expensive and worsens the takeover. But apparently, the company has decided to discuss the latest offer from Elon Musk.