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Decision already on Monday?
Tesla boss
Elon Musk
wants to take over Twitter – the new major shareholder and the company discussed the possible takeover on Sunday and have come closer, it is said
Photo: Hannibal Hanschke / REUTERS
According to insiders, Elon Musk
(50) is on the home stretch for the $43 billion takeover of Twitter.
A deal is imminent and could be announced as early as Monday, several people familiar with the matter told Reuters.
The US short message service is ready to accept the Tesla boss's offer of $ 54.20 per share.
The board has yet to meet to recommend the transaction to Twitter shareholders.
However, failure at the last minute is still possible.
Shares are up about 6 percent premarket to around $49.
The Bloomberg news agency, citing people familiar with the matter, previously reported that Twitter is apparently no longer as opposed to the tech billionaire's takeover bid as it was at first and that a deal could be finalized this week.
Twitter has apparently become more receptive to Musk's plan since presenting $46.5 billion in funding last week.
The Wall Street Journal first reported on it.
According to Reuters, both parties had started negotiations on Monday night.
According to insiders, some shareholders wanted to get a higher price.
Musk had described his offer as his best and last.
The shares closed at $48.93 on Friday.
Twitter and Musk, who according to Forbes are the richest man in the world with assets of $265 billion, were initially unavailable for comment.
Musk announced his intention to take over Twitter around ten days ago – and explained this with alleged restrictions on freedom of speech on the short message service, which he wanted to turn off.
The board of directors of the online service then introduced a countermeasure that allows other shareholders to buy shares at lower prices as soon as an attacker like Musk has a stake of more than 15 percent.
At the same time, Twitter generally left the door open for a deal.
Musk has already bought a good 9 percent stake in the past few months.
After Sunday's meeting, the sides made progress but still have some differences to iron out, the Wall Street Journal wrote, citing people with knowledge.
It is still not certain that a deal will come about, it said.
So far, Twitter has only officially referred to the announcement that Musk's offer will be examined in the interests of all shareholders.
Twitter will release its first-quarter results on Thursday.
The company is expected to comment on the offer by then, if not sooner.
Musk had repeatedly emphasized that he would not increase the offered price of $54.20 per share.
That would value Twitter at around $43 billion.
Investors have so far been skeptical that Musk will achieve his goal: the stock closed at just under $49 on Friday, well below its offer.
Musk presented commitments for loans of a good 25 billion dollars and also wants to bring in shares worth around 21 billion dollars.
The Tesla boss is by far the richest person in the world.
However, Musk's fortune consists almost exclusively of shares in the electric car manufacturer and his space company SpaceX, so that he would also have to resort to loans for a Twitter purchase.
rei, dri/dpa-afx, Reuters