Twitter reportedly set to accept Elon Musk offer, deal could happen Monday

After weeks of  hype and speculation — and stress for some on the left — Bloomberg is reporting that Elon Musk acquisition of Twitter could happen on Monday.

The news follows a rather cryptic tweet from the billionaire Tesla CEO on Friday that declared, “The Barbarians are at the Gate.”

The tweet coming after Musk began pursuing the idea of a tender offer, in which he would attempt to bypass the Twitter board and get shareholders to pledge their stock to him at a certain price.

“Elon Musk says he has lined up $46.5 billion in financing to buy Twitter, putting pressure on the company’s board to negotiate a deal,” the Associated Press reported last week. “The Tesla CEO said Thursday in documents filed with U.S. securities regulators that the money would come from Morgan Stanley and other banks, some of it secured by his huge stake in the electric car maker.”

Twitter said in a statement Thursday that it received Musk’s updated proposal and “new information on potential financing,” adding that its “committed to conducting a careful, comprehensive and deliberate review,” FOX Business reported.

The two sides reportedly met on Sunday and was nearing a deal as they talked into the early hours Monday. Citing a source, Reuters reported that Twitter appeared to be ready to accept Musk’s offer of $54.20 a share.

The great irony in Musk taking over Twitter, citing concerns about free speech, is that that left is up in arms over such a possibility. The reaction to the news of a possible deal is beset with those who vow to take a hike if Musk acquires ownership, as seen here:


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Tom Tillison


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