Twitter is expected to finalize a deal with Elon Musk on Monday.
Several news outlets are reporting that Twitter will likely announce its decision to accept Musk's initial offer to purchase the tech company and make it private.Twitter is expected to announce its acceptance of the $54.20-per-share deal on Monday after the tech company meets to recommend the transaction to its shareholders, according to Reuters. However, there is still a possibility that the deal may collapse, according to sources.
Twitter officials met with Musk on Sunday to discuss his proposed deal, and they attempted to determine the company's total value before agreeing to any deal with the billionaire. In a filing with the Securities and Exchange Commission last week, Musk said he was exploring a tender offer to purchase Twitter stock at $54.20 per share — a number he reportedly told Twitter Chairman Bret Taylor he does not intend to budge from. Musk claimed he secured $46.5 billion in financing to purchase the shares.
House Republicans asked Twitter last week to maintain all records of its dealings with Musk over the offer due to concerns about fiduciary duty and potential limitations on free speech.
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