According to a report published on Monday by The Wall Street Journal, billionaire Elon Musk could sign a deal with social media giant Twitter as soon as this week. As per the report, Elon Musk sparked outrage this month when he declared his bid to take Twitter private for $43 billion. Previously, he purchased more than a 9% stake in the influential social media platform.
As per initial media reports, Twitter’s board of directors declined the offer. In order to prevent the takeover, the company also used the so-called “poison pill,” by diluting the value of its stock.
However, due to shareholder pressure, the company has reportedly decided to give the deal another shot.
Twitter is expected to clarify its position before reporting first-quarter earnings on Thursday. Following a meeting with the billionaire on Friday, some of the company’s shareholders rallied behind Musk. The massive transaction could still fall through. According to the report, some differences must be resolved before the acquisition can be completed.
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