Elon Musk is reportedly in advanced talks to buy Twitter

published 25 April 2022

Elon Musk and Twitter's board of directors were in advanced talks early Monday over Musk's unsolicited bid to buy the company for $43 billion, The New York Times and The Wall Street Journal report. Twitter's board met Sunday morning to discuss Musk's $54.20-a-share offer, and while the board was originally expected to rebuff the bid outright, Musk's disclosure that he had put together commitments to finance the deal was "a turning point" for the board, the Times says.

"The two sides were discussing details including a timeline to close any potential deal and any fees that would be paid if an agreement were signed and then fell apart," the Times reports. Wall Street will likely view Musk's offer views as "the beginning of the end for Twitter as a public company with Musk likely now on a path to acquire the company unless a second bidder comes into the mix," Wedbush Securities Dan Ives wrote in an investor note on Sunday.

Musk, the founder Tesla and SpaceX, is believed to be the world's wealthiest person.

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.