Twitter is ready to agree to Elon Musk’s offer to buy the company, Reuters reported on Monday
Multiple outlets have reported that Musk is in talks with Twitter’s board of directors to finalize his buyout of the company. Musk and the board members met for negotiations on Sunday, with several outstanding issues remaining to be settled, people familiar with the matter told the Wall Street Journal.
A deal could be finalized as soon as Monday, according to Bloomberg and the New York Times.
Musk made an offer to buy Twitter earlier this month shortly after buying a roughly 9 percent stake in the social media company, becoming its largest shareholder. The SpaceX and Tesla CEO polled his 80 million followers in March on whether Twitter upheld principles of free speech.
Worth $259 billion, Musk is currently the richest man in the world.
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk wrote in an SEC filing. “Twitter has extraordinary potential. I will unlock it.”