People familiar with the situation said Twitter Inc. is in talks to sell itself to Elon Musk and might close a deal as soon as this week, a remarkable turn of events just 10 days after the billionaire launched his $43 billion bid for the social media business.
According to the sources, the two parties met on Sunday to discuss Mr. Musk’s plan and were making progress, but there were still concerns to work out.
There’s no assurance they’ll come to an agreement.
Mr. Musk made the offer on April 14 without specifying how he would pay for it, and Twitter was anticipated to reject it, putting in place a so-called poison pill to prevent him from raising his share.
The Wall Street Journal claimed earlier Sunday that Twitter changed its stance and opened the door to discussions after Tesla Inc.
TSLA -0.37% CEO Elon Musk revealed that he had $46.5 billion in financing and the stock market swooned.
Mr. Musk has insisted from the start that his $54.20-per-share offer is his “best and last,” and he has told Twitter Chairman Bret Taylor in recent days that he would not compromise on the price, according to several of the sources.
The two parties were scheduled to discuss matters such as what Mr. Musk would pay if an agreed-upon agreement fell through before it could be completed.
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