Twitter will accept an offer of $54.20 a share from Tesla And SpaceX CEO Elon Musk for the social media company, Reuters reported, citing people familiar with the matter.
That was Musk's original offer to Twitter, and what he called the "highest and best" price. On April 14, an updated 13D filing revealed that Musk offered to buy Twitter for $54.20 a share in cash.
Twitter is likely to announce the $43 billion deal later Monday, when its board is expected to recommend it to Twitter shareholders, the sources said. However, the source added that a deal could always fall apart at the last minute.
Twitter has not yet been able to secure a "go-shop" clause in its agreement with Musk that would allow it to invite other offers from potential acquirers after a deal is signed, the sources said. Twitter would still be allowed to accept the other party's offer, however, by paying Mr Musk a break fee.
IT Home has learned that neither Twitter nor Musk immediately responded to requests for comment.