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Twitter Eyes Deal With Musk as Soon as Monday

Elon Musk, chief executive officer of Tesla Inc., arrives at court during the SolarCity trial in Wilmington, Delaware, U.S., on Tuesday, July 13, 2021. Musk was cool but combative as he testified in a Delaware courtroom that Tesla's more than $2 billion acquisition of SolarCity in 2016 wasn't a bailout of the struggling solar provider.

Twitter Inc. is in the final stretch of negotiations about a $43 billion sale to Elon Musk that could rank as one of the biggest-ever leveraged buyouts of a listed company, people with knowledge of the matter said. 

The social media company is working to hammer out terms of a transaction and could reach an agreement as soon as Monday if negotiations go smoothly, according to the people, who asked not to be identified because the information is private. Musk is lining up partners for the acquisition and continues to speak to potential co-investors, one of the people said.

Discussions between the billionaire Tesla Inc. chief executive officer and Twitter’s board about a takeover at $54.20 per share continued overnight into the early hours of Monday, the people said. Shares of Twitter jumped 3.9% to $50.84 as trading got underway in New York.

Twitter started warming up to a potential deal after Musk revealed a financing plan for the unsolicited bid that included backing from Morgan Stanley and other institutions. The situation is fluid, and talks could drag on longer or fall apart, the people said.

Representatives for Twitter and Musk didn’t immediately respond to requests for comment. The Wall Street Journal reported earlier that the parties could reach an agreement as soon as this week, citing unidentified people.

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  • William Stucke says:

    A comment on your new Commenting Policy, as peer today’s Maverick Insider letter.

    * Overall, I think that it’s a good thing that comments are peer-reviewed. However, the system has some serious faults, and can use some improvements. My suggestions are:
    * It’s hard to determine if a comment is appropriate when it’s divorced from the article it refers to. For example, it would be inappropriate to call your inestimable Peter-Louis Myburgh a crook in a comment, but quite acceptable if one was talking about Iqbal Surve, say. Without a link to the original article, it’s very difficult for a reviewer to make a call on “This man is a crook”.
    * Some people (like me) take the trouble to format my answers so that they can be clearly and easily read. All formatting (including paragraph breaks) seems to get lost during the editing process.
    * The lack of an editing window is a serious error. I recently read an article and counted Malema’s name 12 times. I then counted how many times were in the comments: 4. Instead of posting about 12 – 4 = 8, I posted a comment that said 4. Of course, I realized my mistake seconds after pressing . Too late!
    * I note that too many people are still posting under a pseudonym. I thought that this was against the rules?
    * Finally, it would be good to return to the previous situation where one can look up your (or someone else’s) previous comments.

    This message posted to 2022-04-25-twitter-eyes-deal-with-musk-as-soon-as-monday/, with a gap above it.

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