New Delhi: The world’s richest man Elon Musk’s dream of buying Twitter seems to be coming true. Tesla CEO had offered to buy the American microblogging site for $43 billion. Twitter’s board has approved his offer.
Elon Musk is one of the largest shareholders of Twitter. He has a 9.2 percent stake in Twitter. In the same month, he had informed me about buying a large stake in Twitter. A few days later, he surprised the whole world by offering to buy Twitter.
Twitter board approves the deal
There were talks between Elon Musk and the board of Twitter on Monday. In this conversation, the board accepted Musk’s offer. However, the deal has not been officially announced yet. An announcement regarding this will be made soon.
After this offer of his, the market of all kinds of speculations was hot. News agency Reuters quoted sources as saying that Twitter has agreed to accept his offer. A deal can be reached on this deal on Monday. Whereas Bloomberg also quoted sources close to the developments as saying that Twitter is working on determining the terms of the transaction.
Musk to buy 100% stake
In a regulatory filing on April 14, Elon Musk had informed about buying the entire 100% stake of Twitter at a price of $ 54.20 per share. Also said that there is a need for change in this social media company.
Describing his offer as the best and final, he also said that if Twitter does not accept his offer, he will have to reconsider his position as a shareholder.
