Twitter Shares Rise 4 Per Cent On Reports Company Could Accept Elon Musk’s Bid Today

Elon Musk has offered to buy Twitter for $54.20 per share, which is about $43 billion, earlier this month

As soon as the news of Twitter closing a deal with Elon Musk went viral, share price of the social media platform surged in the pre-market trading. Image: Getty

Source : Twitter Getty

New Delhi: Amid reports of Twitter closing a deal with Tesla Chief Executive Officer (CEO) Elon Musk, the share of the mirco-blogging site jumped near 4 per cent in the pre-market, according to news reports.

According agency news, Twitter is nearing a deal with the SpaceX chief. As soon as the news went viral, share price of the social media platform surged.

Earlier this month, Musk (50) has offered to buy Twitter for $54.20 per share, which is about $43 billion. The board of Twitter met on Sunday to negotiate about the deal. However, the board negotiated with Musk in the early hours of Monday, according to news reports.

According to Reuters, Twitter may announce the $43-billion deal later on Monday once its board gives final approval, adding that there are chances the deal may also collapse at the last minute.

Initially the social media platform was expected to decline the offer by Musk and had adopted a poison pill to fend off a potential hostile takeover. However, later Twitter board became receptive as Tesla chief revealed that he secured $46.5 billion in financing.

On the other hand, the Musk, who was eyeing his bid, has been holding meetings with Twitter shareholders’.

He has always maintained that in order to grow more, the social media platform should go private and become an absolute space for free speech.

Elon Musk has been completely outspoken about changes he’d like to see in Twitter. The Telsa chief had joined the platform in 2009 and has over 8 crore followers.