According to the Wall Street Journal Twitter and Elon Musk’s team were meeting on Sunday to discuss a takeover bid.
Twitter was reportedly re-examining Elon Musk’s $43 billion takeover supply after the billionaire lined up financing for the bid.
On Monday news broke that a deal may be made as early as today.
Bloomberg says the company is in the final stretch of negotiations with Elon Musk.
Via Bloomberg:
Twitter Inc. is in the final stretch of negotiations about a $43 billion sale to Elon Musk that could rank as one of the biggest-ever leveraged buyouts of a listed company, people with knowledge of the matter said.
The social media company is working to hammer out terms of a transaction and could reach an agreement as soon as Monday if negotiations go smoothly, according to the people, who asked not to be identified because the information is private. Musk is lining up partners for the acquisition and continues to speak to potential co-investors, one of the people said.
Discussions between the billionaire Tesla Inc. chief executive officer and Twitter’s board about a takeover at $54.20 per share continued overnight into the early hours of Monday, the people said. Shares of Twitter jumped 3.9% to $50.84 as trading got underway in New York.
Twitter started warming up to a potential deal after Musk revealed a financing plan for the unsolicited bid that included backing from Morgan Stanley and other institutions. The situation is fluid, and talks could drag on longer or fall apart, the people said.