March 27, 2023

Dubai Week

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Elon Musk's acquisition of Twitter is nearing completion

Elon Musk’s acquisition of Twitter is nearing completion

Informed sources say that the billionaire Elon Musk has begun final talks on acquiring the social networking site Twitter for $ 43 billion.

The Bloomberg News Agency pointed out that Twitter management is currently working on setting the terms of the deal, which could lead to an agreement during the day if negotiations go smoothly.

Citing one of the Bloomberg sources, Musk mobilizes partners for the acquisition deal and continues to talk to potential investor partners about the deal.

Sources said discussions between billionaire Musk and Twitter’s board of directors about buying Twitter shares at $ 54.20 a share continued until early this morning.

Shares of Twitter rose 39% to $ 50.84 during today’s trade.

Earlier in the day, the Wall Street Journal reported that Twitter had decided to reconsider the acquisition offer submitted by Elon Musk, citing sources close to the deal, citing sources close to the deal. In light of the announcement by Musk’s owner and founder, electric car company Tesla raised $ 46.5 billion for the deal.

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