World richest man and Chief Executive Officer of Tesla motors, Elon Musk, is on the verge of buying Twitter.
The microblogging site confirmed that its representatives are in talks to sell the company to Musk.
Platforms Africa reports quoting New York Times that the 11-member board was negotiating with Musk into the early hours of Monday over his unsolicited bid to buy the company, after he began lining up $46.5 billion in financing for the offer last week.
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It was reported that Elon Musk and Twitter were discussing details including a timeline to lose any potential deal and any fees that would be paid if an agreement were signed and then fell apart .
As of Monday, there was no agreement between both parties.
It happened days after Twitter moved to defend itself against Elon Musk $43 billion takeover bid, announcing a plan that would allow stakeholders to purchase additional stock.
Twitter reportedly said in a statement on the 15th of April 2022 that “The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium,”
Elon Musk bought 9.2 pet cent of the company in early April.
