/ 26 April 2022

Musk’s acquisition of Twitter is close

Elon Musk
Image source: Getty

Speculation is rife that Twitter is close to selling to the world’s richest man, Elon Musk. The board of the social media company met yesterday to discuss his US$46.5 billion takeover offer, and reports this morning say an announcement is imminent. Negotiations became more serious after Musk lodged documents with America’s corporate regulators last week that outlined a plan to finance the deal with a mixture of his own assets and the backing of banking giant Morgan Stanley and other firms. Analysts say the formal disclosure of the financing has put pressure on Twitter’s board to take the offer seriously. The billionaire, who has ridden the wealth rocket via Tesla and Space X, has said that he wants to take Twitter off the stock exchange to remove shareholder pressure and allow users to speak more freely on the platform. Stay tuned…

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