Twitter close to accepting Elon Musk’s $54.20 per share bid, deal could be finalised by May 1, say reports

• Elon Musk had acquired a large 9.2% stake in Twitter, according to regulatory filings earlier this month.
• The Tesla co-founder had then come out with a bid to acquire Twitter for $54.20 per share, valuing the social media giant around $43 billion.
• After enacting a ‘poison pill’ policy – decidedly taking an anti-Elon Musk stance – Twitter is now close to accepting Musk’s original offer.

Twitter is reportedly all set to accept Elon Musk’s $54.20 per share bid, valuing the social media giant at close to $43 billion. Earlier, Twitter had tried to repel Musk’s takeover bid by launching a ‘poison pill’ policy.

According to a report by $4, Twitter is “nearing a deal” to sell itself to Musk, who had $4, terming it as his “best and final” offer.

Post this, Twitter had officially announced a ‘poison pill’ policy to keep Musk from undertaking a hostile takeover. Last week, Musk readied a war chest of $46.5 billion – more than adequate to cover his bid for Twitter.

Reacting to the news, Twitter shares were up nearly 5% in pre-market trading.

Earlier this month,$4 that Elon Musk had acquired a 9.2% stake in Twitter, making him the single largest individual shareholder of the company. The revelation sent Twitter stock soaring, $4 of 28% when the news broke (April 4).

Post the revelation, Twitter$4 Musk to join the company’s board of directors, but with the restriction that he would not be allowed to acquire more than a 14.9% stake.

After initially accepting the offer, Musk$4 the board seat.


In his open letter to the Twitter board, Musk also made a veiled threat to sell the company’s shares if his offer were not accepted. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said.

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