It seems that the stars are aligning for Elon Musk to take over Twitter. Bloomberg is reporting via sources that this could happen as early as today:
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. founder 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 as much as 6.2% in pre-market U.S. trading Monday, hitting as high as $51.98.
Now whether this is a good thing for Twitter users is another question altogether. After all, Musk is best known for being a loose cannon. And having him at the helm of Twitter may not end well. But I guess we’ll have to if that’s the case. Assuming that this deal does close.