Twitter Nears a Deal to Sell Itself to Elon Musk

Lauren Hirsch, Mike Isaac, and Kate Conger, reporting for The New York Times:

Twitter is nearing a deal to sell itself to Elon Musk, two people with knowledge of the situation said, a move that would unite the world’s richest man with the influential social networking service. An agreement could be announced as soon as Monday, the people said.

Twitter’s board was negotiating with Mr. 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, said the people, who spoke on the condition of anonymity because they were not authorized to discuss confidential information. 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, they said. […]

On Friday, Block, a financial services company led by Mr. Dorsey, disclosed that he had changed his title at the firm from chief executive to “Block Head.” That shift appeared to resonate with Mr. Musk.

I don’t even know how to make a joke about any of this.

★ Monday, 25 April 2022