Twitter Really Wants to Be Bought, Elon’s Deal Get Serious

Twitter shareholders don't want the board to pass on this deal.

Elon Musk Twitter

It looks like Tesla CEO Elon Musk is nearing his deal to buy Twitter and there has been growing interest from the board to have the social media company bought.

Early this morning, Twitter’s 11 member board convened to further discuss Elon’s offer since the 50-year-old had lined up $46.5 billion financing to buy the social media platform which his bid was actually a serious one.

His financing is backed by investment bank Morgan Stanley($13 billion debt financing), loans against his Tesla stock($12.5 billion) and equity financing($ 21 billion).

Twitter’s board has grown receptive to his proposal even after pulling a poison pill move over a $43 billion hostile takeover. Wall Street analysts are expecting that Twitter wants to sell at a minimum of $60 a share.

Elon Musk has said that Twitter has “extra-ordinary potential” and that he will “unlock it”

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George Kamau
I brunch on consumer tech | first.last at techweez dot com