Twitter Inc. is in the final stretch of negotiations about a US$43 billion ($58.9 billion) sale to Elon Musk that could rank as one of the biggest-ever leveraged buyouts of a listed company, people with knowledge of the matter said.
The social media company is working to hammer out terms of a transaction and could reach an agreement as soon as Monday if negotiations go smoothly, according to the people, who asked not to be identified because the information is private. Musk is lining up partners for the acquisition and continues to speak to potential co-investors, one of the people said.
Discussions between the billionaire Tesla Inc. chief executive officer and Twitter’s board about a takeover at US$54.20 per share continued overnight into the early hours of Monday, the people said. Shares of Twitter jumped 3.9% to US$50.84 as trading got underway in New York.