According to persons familiar with the situation, Twitter is close to agreeing to sell itself to Elon Musk for $54.20 per share in cash, the sum he originally made and dubbed his “best and last” offer to the social media business.
According to the sources, Twitter may announce the $43 billion acquisition later on Monday after its board of directors meets to endorse the transaction to Twitter shareholders. There is always the possibility of the deal falling apart at the last minute, according to the sources.
According to the sources, Twitter has not been able to negotiate a ‘go-shop’ option in its agreement with Musk that would allow it to accept additional bids from possible acquirers once the deal is finalized.
Despite this, Twitter would be able to accept an offer from another party if it paid Musk a break-up fee, according to the sources.