The entirely of Twitter nearly had a meltdown when it was announced that Elon Musk offered to purchase the social media company at a whopping $44 billion.
It all started when Elon Musk became the largest shareholder of the company at 9.2%, and he subsequently rejected a seat on the board of directors. Shortly after, he offered to buy Twitter, but it didn't seem like the company was too keen on the offer at first. It seems their tune has changed as of Monday morning.
Twitter Is Reportedly Accepting Elon Musk's Offer of $44 Billion
The $44 billion offer is a cash offer, and Musk also called it his "best and final" offer. This comes out to $54.20 per share, and the shares jumped 3% just this morning. Sources close to Twitter said the company is preparing to take the deal on Monday, but there is always a chance that the deal could fall through. If it goes through, this will likely go down as one of the largest buyouts we've seen.
Many people who work at Twitter headquarters aren't exactly excited about the potential purchase, considering the fact that many of them despise Elon Musk's politics and remarks on American culture. Regardless of the employees' response, the board has been negotiating with Musk well into the early hours of Monday morning. We should expect to hear the final news soon.