Twitter is nearing a final deal with Elon Musk for $54.20 per share in cash, the price that he originally offered to the social media company and which Musk called his ‘best and final’, sources in the know said.
Twitter may announce the $43 billion deal on Monday once its board has met to greenlight the transaction to shareholders.
There is still an outside chance that the deal will not go through at the last minute, the sources added.
Twitter has not been able to secure a ‘go-shop’ provision, under its agreement with Musk.
This would have essentially meant it would be able to solicit bids from other potential buyers once the deal is signed, the sources said. In that case, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee.
Twitter and Musk did not immediately comment on the details of the deal.