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Twitter stocks rise as it gets ready to accept Elon Musk’s $43 Billion offer

Twitter is nearing a deal to sell itself to Elon Musk, following which the share rose by more than 5 percent in pre-market trade on speculation. The board of the

Twitter is nearing a deal to sell itself to Elon Musk, following which the share rose by more than 5 percent in pre-market trade on speculation.

The board of the social media giant is reported to have met with Musk over the weekend to discuss his $43bn offer.

Reuters, the news agency, reported that an announcement may come later on Monday after Twitter’s board has met and recommended a deal to its shareholders.

Musk’s targeting of Twitter has moved at remarkable speed. It emerged at the beginning of April that Musk, who is the boss of electric carmaker Tesla, had become the largest shareholder in Twitter with a 9.2% stake.

Earlier, the billionaire, who is the world’s richest man according to Forbes magazine, asked his 83.3 million followers on Twitter if the social media platform should allow people to edit their posts.

He also recently tweeted: “If our Twitter bid succeeds, we will defeat the spam bots or die trying”…..And authenticate all real humans.”

However, an agreement is not yet final and may still fall apart, but what had initially seemed to be a highly improbable deal appeared to be nearing an endgame.

First Published: 25th April, 2022 19:11 IST

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