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According to new reports, Twitter has reversed course and is now set to accept Elon Musk’s offer to buy the company and take it private.

As The New York Post reports:

Twitter is reportedly on the verge of accepting Elon Musk’s $43 billion bid to take the social network private, according to a report.

Twitter may announce it has accepted Musk’s offer later on Monday once its board has met to recommend the transaction to Twitter shareholders, sources told Reuters. The talks are fluid and the deal could still fall apart, the sources added.

The Monday report by Reuters sent shares of Twitter soaring by more than 5% in premarket trading on Monday.

Twitter was unable to secure a so-called “go-shop” provision from Musk which would have allowed it to solicit other bids from potential buyers after the deal was signed, according to the report.

The news came after Musk met with several large stakeholders in Twitter over the weekend to discuss the details of his offer to takeover the company.

Musk’s potential takeover of Twitter is widely considered to be a watershed moment by many observers, one that would have major ramifications for free speech on social media.

This story is developing…

UPDATE: It’s now official, Twitter has been sold to Elon Musk for 44 Billion dollars


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maxibaby
maxibaby
2 months ago

Test

Dan Barber
Dan Barber
2 months ago

I may log back into the account I abandoned a couple of years ago.

PatrioTEA
PatrioTEA
2 months ago
Reply to  Dan Barber

And I may join up for the first time.

MattFromPA
MattFromPA
2 months ago

My analysis of Musk’s ability to prevail over the board of Twitter:
1. He made them all filthy rich.
2. He promised not to dump all his shares in Twitter and send the stock price into free fall.
3. He made them understand that he was gonna be the head motherf***** in charge, lest he do what I described in #2 and put them all in the poorhouse.