Twitter is said to be in discussions with Elon Musk and could possible reach a deal as soon as this week.
This just 11 days after the billionaire businessman offered to buy the social media giant. Twitter and Musk met on Sunday to talk about the proposal and figure out the details. However, there is no guarantee that a deal will be reached.
Last week, Musk announced that he had lined up $46.5 billion in financing to buy all the shares of the company, and was considering a Tender offer – which means he would acquire the shares directly from the shareholders. He then made video calls to some of the shareholders.
Recently, Musk revealed that he he had taken a 9.1% stake in the company with Twitter stock ring about 5% to more than $51 a share. Musk then declined to sit on the board of the company after they said they would cap the amount of stock he could own.
That’s when the Space-X CEO offered to buy all the shares of the company at $54.20 a share, his “best and final” offer. Something he reiterated to Twitter Chairman Bret Taylor recently.
Twitter will report its first-quarter earnings this week, and is expected to make a decision on whether or not to sell to Musk once that report come out or maybe even sooner.
