Twitter Inc is poised to approve a share sale to Elon Musk for $43 billion in cash, people familiar with the matter told Reuters.
Twitter will announce the $54.2 per share deal Monday, after its board of directors meets to recommend the transaction to the social media company's shareholders, Reuters sources said.
However, it remains open to the possibility of the deal collapsing at the last minute, Reuters sources added.
Musk, the world's richest person according to a Forbes tally, is negotiating to buy Twitter in a private capacity and Tesla is not involved in the deal.
Twitter has so far been unable to secure a "go-shop" provision under the agreement with Musk that would allow him to request another bid once the deal is signed, the sources said.
However, Twitter will be allowed to accept offers from the other party by paying Musk a parting fee, the sources revealed.
Reuters sources requested anonymity as the matter is confidential. Twitter and Musk did not immediately respond to requests for comment from Reuters.
Twitter shares were up 4.5 percent in pre-market trading in New York Monday at $51.15.
Earlier, Musk, Tesla's CEO, said his offer was the "best and the last". "And if it's not accepted, I need to reconsider my position as a shareholder," Musk said.
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