Closing Deal: Is Elon Musk Buying Across Twitter?
The deal with world number one Elon Musk to buy a 100 percent stake in popular social media site Twitter has reached its final stage and an official announcement will be made soon.
Elon Musk, the founding president of companies including SpaceX and Tesla, and currently the world's number one richest man, has been following the world-famous social networking site Twitter for the past few months.
Elon Musk, who claimed that Twitter did not give users freedom of expression, bought a 9.2 percent stake in Twitter for about $73.5 million. With this move Elon became Twitter’s biggest partner.
Following this, Musk, who had been invited to join the board, issued a statement saying he wanted to buy a 100 percent stake in Twitter for $43 billion.
Elon's announcement was not liked by Twitter's board, but shareholder pressure mounted. Other stakeholders commented that Elon should accept the announcement and negotiate with him, not to miss the opportunity.
Following this, it seems that the Twitter management has also started negotiating to sell the shares outright. Twitter executives have reconsidered Elon Musk's offer and have been in talks between the two sides for the past week. It has been reported earlier this week that a deal could be struck between Twitter and Elon Musk.
Elon Musk and Twitter did not make any announcements about the deal.
New York News Agency Reports
New York News Agency reports that Elon has finally decided to buy at $54.20 a share, which is the 'best and last' price, and that Twitter has agreed to sign the deal soon.
Elon Musk also said that Twitter would have to consider changing its partner status if it did not agree to its deal.
Shares of Twitter rose 4.5 percent to $51.15 a dollar in early trade on the New York Mercantile Exchange on Monday as negotiations between Twitter management and Elon progressed.
Users have been sharing various opinions on social media about Twitter buying Musk
"My goal is not to buy Twitter and make money, I just want to build a social networking site that users can trust to express themselves freely," Elon Musk said.
Users have been sharing various opinions on social media about Twitter buying Musk
Is Elon Musk buying Coca-Cola? - Tweets going viral ...
Elon Musk jokingly tweeted that he was going to buy Coca-Cola and has now created a new trend on Twitter.
He went viral on Twitter for posting comedic posts. Now he has acquired the Twitter company. Is the talk of the town on a scale. People have been talking differently about his acquisition of Twitter for the last 2 days.
In this case Elon Musk is currently putting up a tweet as a comedy. He next tweeted that he would buy Coca-Cola and add cocaine again
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