Report: Twitter set to accept Elon Musk’s $45 billion bid to buy company

Elon Musk

Mon, 25 Apr 2022 13:42:21 WAT

Twitter is reportedly prepared to accept billionaire Elon Musk’s offer to buy the company for $54.20 per share, according to Bloomberg.

If negotiations go smoothly, the deal could be completed today, the news agency said.

This comes days after Twitter moved to defend itself against Elon Musk’s $43 billion “hostile takeover” bid, announcing a plan that would allow shareholders to purchase additional stock.

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“The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium,” Twitter had said in a statement on April 15, 2022.

Musk had in early April bought 9.2 per cent of the company.

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