Twitter is reportedly on the verge of accepting Elon Musk's $43 billion bid to take the social network private, according to a report.
The Monday report by Reuters sent shares of Twitter soaring by more than 5% in premarket trading on Monday. Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added.
The move comes after Musk reportedly met with several shareholders over the weekend and outlined the specifics of his $54.20 per share bid for the social media platform, according to Reuters. Musk’s outreach forced the company’s board of directors to seriously consider the Tesla CEO’s $43 billion takeover bid, the report said.
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