Advertisement
UK markets closed

  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     

  • FTSE 250

    19,391.30
    -59.37 (-0.31%)
     

  • AIM

    745.67
    +0.38 (+0.05%)
     

  • GBP/EUR

    1.1607
    -0.0076 (-0.65%)
     

  • GBP/USD

    1.2370
    -0.0068 (-0.55%)
     

  • Bitcoin GBP

    51,722.11
    +1,806.82 (+3.62%)
     

  • CMC Crypto 200

    1,371.97
    +59.34 (+4.52%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     

  • DAX

    17,737.36
    -100.04 (-0.56%)
     

  • CAC 40

    8,022.41
    -0.85 (-0.01%)
     
Property:

11 beautiful homes with glorious garden rooms

Investing in a home with a garden room will enable you to enjoy your outside space whatever the weather

Twitter expected to accept Elon Musk’s bid to buy company

Adam Smith
·1-min read
Twitter expected to accept Elon Musk’s bid to buy company

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

The deal could be reached today if negotiations go smoothly, Bloomberg has reported.

Follow our live coverage Elon Musk’s Twitter takeover bid

Last week, it was reported that Mr Musk had secured the funding for the deal, after he bought more than 9 per cent of Twitter, making him the biggest company’s biggest shareholder on 9 April.

ADVERTISEMENT

On 14 April, Musk announced an offer to buy the social media platform for about $43 billion. The billionaire has commitments from Morgan Stanley and other financial institutions, he said in documents published by the US Securities and Exchange Commission, pushing back against rumours that he did not have enough liquid cash to make the deal.

Twitter had originally enacted an anti-takeover measure known as a poison pill that could scuppor a takeover attempt by making it too expensive, but apparently decided to negotiate following an updated proposal from Mr Musk.

The board apparently wants to know if there are any more active investigations into Mr Musk from regulators like the SEC that could stop the deal falling through, and if Mr Musk buying the company would be too great a risk, there could be a break-up fee for Twitter.

More follows...