Twitter Nears a Deal to Sell Itself to Elon Musk
The company’s 11-member board met with Mr. Musk to discuss his offer to buy the social networking service and take it private. An agreement could come as soon as Monday.
Update, 3:05 p.m. Eastern time: Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion. Follow the latest updates →
Twitter is nearing a deal to sell itself to Elon Musk, two people with knowledge of the situation said, a move that would unite the world’s richest man with the influential social networking service. An agreement could be announced as soon as Monday, the people said.
Twitter’s board was negotiating with Mr. Musk into the early hours of Monday over his unsolicited bid to buy the company, after he began lining up $46.5 billion in financing for the offer last week, said the people, who spoke on the condition of anonymity because they were not authorized to discuss confidential information. The two sides were discussing details including a timeline to close any potential deal and any fees that would be paid if an agreement were signed and then fell apart, they said.
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