Report: Twitter set to actually accept Elon Musk’s acquisition offer as soon as today

Twitter may announce its acceptance of Elon Musk’s $43 billion acquisition offer as soon as later on Monday, according to a new report from Reuters. Musk submitted his “best and final” offer to acquire Twitter just under two weeks ago, a move which came just two weeks after the Tesla and SpaceX CEO bought a 10% stake in the company.

Musk’s roughly $43 billion offer, which he has apparently secured funding for, values Twitter at $54. 20 per share. Early reports indicated that Twitter was not interested in accepting the offer, with the company even adopting a “poison pill” to avoid a hostile takeover.

Reuters reports that Twitter’s board of directors is expected to meet again on Monday to “recommend the transaction” to shareholders. The deal, however, could still collapse at the “last minute,” the report cautions:

Twitter may announce the $54. 20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said. It is always possible that the deal collapses at the last minute, the sources added.

Reuters also notes that Twitter has “not been able to secure a ‘go-shop’ provision” in its agreement with Musk. This agreement would permit the company to solicit other bids once it has signed a contract with Musk, however, this provision isn’t currently in place.

Twitter could announce that Musk has accepted his offer to acquire the company as early as today. Musk stated that Twitter should go private to be able to thrive.

I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.

But, I have come to realize that the company in its present form will not thrive or serve this social imperative. Twitter needs to be transformed as a private company.

What do you think of Twitter’s possible acceptance of Musk’s acquisition offer by Musk? Let us know down in the comments.