Elon Musk, the CEO of the electric car manufacturing company Tesla, is seemingly closer to sealing the deal of acquiring Twitter, the leading Microblogging platform.
As reported by The Wall Street Journal, Musk could become the official owner of Twitter this week as the board is seriously considering his proposal.
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According to the report, the two sides met on Sunday to discuss the proposal. Although there are issues to resolve in the process, they are reportedly making progress.
Earlier this month, Musk presented his proposal to acquire Twitter at $54.20 per share, a move that came a few days after purchasing a 9.2% stake in the microblogging platform.
The journal also stressed that there is no timeframe yet for the sealing of the deal and it’s still uncertain if the 100% stake of the social media site will be sold to Mr. Musk.
The firm is only analyzing whether it would sell the company based on the $43 billion bid made by the Tesla CEO.
The report noted, “Twitter is slated to report first-quarter earnings Thursday and had been expected to weigh in on the bid then, if not sooner.”
Aside from considering Musk’s bid, the board is also considering whether Musk is under any investigation that could potentially put the deal at risk.
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Why Elon Musk Is Interested In Acquiring Twitter?
Elon Musk has been reiterating the fact that his interest to purchase Twitter is to promote free speech on the platform and to also eliminate spam bots that con artists leverage to scam unforeseen crypto investors.
As recently disclosed by Mr. Musk, once his bid is accepted, war will be waged against Twitter bots and their creators in order to make the platform safe for all and sundry.
However, many have slandered his intention, thinking he has a hidden agenda. Some critics stated that he wants to take over the social media giant to give better treatment to the political views that favor him.
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