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Tuesday, August 9, 2022

Elon Musk Is Very Close To Finalizing The Deal With Twitter Board

Elon Musk is an investor and entrepreneur who founded many companies like Tesla and SpaceX. It was all over the news that Elon Musk gave a final offer to Twitter for having entire ownership of the social media platforms by paying $54.20 for each share. Moreover, he also stated that this will be his final offer and was waiting for a response from Twitter.

Elon Musk And Twitter Deal Results Will Come Out Very Soon

People believed that Twitter will decline its offer of Musk and will not let him buy the application for an offered amount of $40 billion. However, The New York Times, Reuters, and other news channel believes that Twitter might be ready to have an offer and it will be announced soon. 

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As per sources, the negotiations continued the whole morning on Monday and the final decision will be declared once the board recommends necessary instructions to its shareholders. However, the news also states that the deal can be unsuccessful at any moment. The price of each share of Twitter increased by 4.5% this Monday. 

Elon Musk wanted to own Twitter fully and make it a private company. In his words, he started investing in this social media application because he thought that it has the potential to become the platform for free speech in the world. He also believes that free speech can only unlock the key to democracy. 

However, he was disappointed after watching that the platform was neither growing nor serving the imperative of society. Thus, he wishes to transform Twitter totally and stressed the fact that his offer was the final and the best one. He also made a slightly twisted threat where he stated that if they refuses his offer, he will think about his shareholding position. 

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Twitter prevented him to increase the stakes beyond 15% from Wednesday after he made the offer. However, they got a little convinced after they knew that Musk would finance $46.5 billion immediately.

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