Twitter is about to accept Musk's $43 billion offer
Twitter Inc. is close to agreeing to a deal to sell it to billionaire Elon Musk for $54.20 in cash per share, a price the Tesla CEO has described as his "best and last" offer to buy the social media platform, sources familiar with the matter said.
The sources added that Twitter may announce a $43 billion deal later on Monday, once the company's board of directors meets to recommend shareholders to approve the deal.
The sources said that the collapse of the deal at the last minute is possible.
Musk, the world's richest person according to Forbes, is negotiating to buy Twitter in his personal capacity and Tesla is not involved in the deal.
The sources requested anonymity because the matter is confidential.
Neither Musk nor Twitter immediately responded to requests for comment.
Twitter shares rose 4.5 percent in premarket trading in New York on Monday, to $51.15.
Musk said Twitter needed to become a private company in order to grow and become a true platform for free speech.
The deal will come just four days after Musk unveiled a financing package to support the acquisition.
This led to Twitter's board of directors taking the deal more seriously and many shareholders asking the company not to give up the opportunity, Reuters reported.
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