Twitter's board is reportedly close to a deal with Elon Musk over the Tesla CEO's bid to buy the social platform and take it private.that the board could announce an agreement as soon as Monday accepting Musk's initial offer to buy Twitter at $54.20 a share, or about $43 billion.
Citing anonymous sources with knowledge of the situation, the Times and Reuters said the two sides were discussing details around the deal, including potential fees in case an agreement was signed and then fell apart. "Twitter reports earnings later this week, which likely will not be rainbows and smiles thus putting further pressure on the company around this game of high stakes poker with the Musk bid looming," Wedbush Securities analysts Daniel Ives and John Katsingris said in a research note.
"The Twitter board could not find a white knight, and with Musk's financing detailed the clock has essentially struck midnight for the board, which is why negotiations have begun to get a deal done," Ives said.
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