Friday, December 9

Dogecoin Fan Elon Musk May Buy Twitter This Week: Report

Centibillionaire Elon Musk may be on track to link a deal with social media giant Twitter as early as this week, as stated by the Wall Street Journal to a Monday report.

As reported by U.Today, Musk stirred controversy earlier this month after announcing his bid to take Twitter private for $43 billion. Before that, he bought more than a 9% stake in the influential social media platform.  

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Previous media reports stated that Twitter’s board of directors had passed on the offer. The firm also takes the so-called  “poison pill” by diluting the value of the stock to prevent the takeover.

Notwithstanding, the company has reportedly decided to give the deal another go due to shareholder pressure.

Twitter is expected to confirm its stance before announcing its first-quarter earnings on Thursday. Some of the company’s shareholders rallied behind Musk after meeting with the centibillionaire on Friday.

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The huge deal could still fall through. As stated by the report, some differences have to be settled before the acquisition is finalized.

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