Exclusive-Twitter set to simply accept Musk’s ‘greatest and last’ offer-sources By Reuters

© Reuters. FILE PHOTO: The Twitter app is seen on a smartphone on this illustration taken July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK (Reuters) – Twitter Inc (NYSE:) is nearing a deal to promote itself to Elon Musk for $54.20 per share in money, the value that he initially provided to the social media firm and known as his ‘greatest and last’, individuals accustomed to the matter mentioned.

Twitter might announce the $43 billion deal in a while Monday as soon as its board has met to suggest the transaction to Twitter shareholders, the sources mentioned. It is all the time potential that the deal collapses on the final minute, the sources added.

Twitter has not been in a position to safe up to now a ‘go-shop’ provision below its settlement with Musk that might enable it to solicit different bids from potential acquirers as soon as the deal is signed, the sources mentioned. Still, Twitter could be allowed to simply accept a suggestion from one other celebration by paying Musk a break-up price, the sources added.

Twitter and Musk didn’t instantly reply to requests for remark.

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