Twitter management accepts takeover offer from Elon Musk

The management of the social media group Twitter will accept the takeover offer from entrepreneur Elon Musk. This should not stand in the way of the multi-billionaire buying the service. Several media and news agencies are currently reporting this, citing informed circles. As a result, it will now go as follows: The management will submit its positive assessment of the request to the supervisory board, which will make a decision in a meeting on Monday.

But that seems to be only a matter of form. An official announcement of the deal could follow after that. Elon Musk had made a cash offer for $54.20 per share. The deal is worth a total of about $43 billion. Musk wants to close the deal with his personal fortune, so he doesn’t want it to go through any of his other companies, such as Tesla.

Provisional contract

The outcome of the negotiations between Musk and the board of Twitter has now been laid down in a preliminary contract. This serves to show that there is a genuine interest on both sides. In principle, it would still be possible for another stakeholder to come in with a higher takeover bid, but then Musk must be compensated. Musk had given several reasons for his interest in Twitter.

From his point of view, it would make more sense to take Twitter out of the stock market to drive stronger growth. In addition, he stated that the service would become a “true platform for freedom of expression”. This was only partially well received in the Twitter community, as Musk sometimes has a very idiosyncratic take on what is allowed as an opinion: He likes to include personal attacks when voiced by himself.