Twitter is reportedly set to accept a $43 billion cash offer from Elon Musk to purchase the platform, with a deal potentially being formally announced sometime on Monday, according to an exclusive report from Reuters.
Musk, the CEO of Tesla Inc., called the bid his “best and final” offer for Twitter, and a $54.20-per-share deal could be announced by Twitter today, however the report indicates that a deal could fall apart at any time.
Tesla is not involved in the deal.
Amidst the rumors of a potential landmark deal, Twitter shares were up 4.5% in pre-market trading in New York on Monday at $51.15.
Musk has stated that he believes Twitter needs to be taken private in order to grow, and it needs to become a real platform for freedom of speech.
Despite the company being on track to his some of it’s lofty financial goals for 2023, Twitter’s sale would be a clear indication that their new chief executive Parag Agrawal, who took over the role back in November of 2021, hasn’t been getting the job done, in the company’s eyes.