Twitter Inc is leaning towards a sale to Elon Musk for around $43 billion in cash, the price the CEO of Tesla has called his “best and final” offer, according to Reuters.
Reuters reported Monday, “Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said, adding it was still possible the deal could collapse at the last minute.”
Twitter users have threatened to deactivate their accounts after reports that Twitter may approve Elon Musk’s offer.
“#RIPTwitter” was trending on Twitter after multiple sources reported that Twitter’s board could approve Musk’s offer to buy the company for $54.20 per share as soon as Monday. Musk made a $46.5 billion offer to buy the company earlier this month.
“Not sure I am interested in Twitter if Elon Musk owns it,” CNN contributor John W. Dean tweeted late Sunday.
“Why the hell would Twitter board agree to Musk buying and destroying what they built,” former U.S. Florida Senate Candidate Pam Keith said in a tweet.
In a tweet Monday, Musk said, ” I hope even my worst critics remain on Twitter, because that is what free speech means.”
Twitter shares were up 4.5% in pre-market trading in New York at $51.15 on Monday.
“The company will neither thrive nor serve this societal imperative in its current form,” Musk said in his offer letter last week.