Elon Musk and Twitter could reach a deal for the tech billionaire to buy the social media platform as early as today, in an agreement that could exceed $46.5 billion that would bring nearly two weeks of trolling, hand-wringing, and bickering to a dramatic end, according to two reports.
Twitter’s share price has risen since Musk made his offer of $54.20 per share, pushing the cost of a takeover closer to $50 billion than the original $43 billion.
Talks are in the “final stretch,” Bloomberg reported, citing a person with knowledge the matter. The San Francisco-based platform and world’s richest man could have a deal by the end of the day if they can hammer out terms, according to the person. Reuters reported that Twitter’s board of directors is poised to recommend shareholders accept Musk’s $54.20-per-share offer
It remains possible that the deal could collapse at the last minute, the sources told Reuters.
The rapid development comes after Musk met Sunday with Twitter executives to demonstrate he had financing in place. The Tesla mogul had earlier hinted he might bypass the board with a tender offer directly to shareholders if the board rejected the bid he first announced on April 14. The share price of Twitter has risen nearly 7% since Musk made his offer, but still remain some 10% below his offer. Shares were up another 4.5% in pre-market trading Monday, at $51.15.