(WSJ) Twitter stock surged more than 4% on Monday after reported talks for a buyout by Elon Musk, with a deal expected as soon as this week.
Musk is said to have met Twitter on Sunday to discuss the takeover bid of around $43 billion with talks making process.
The two sides are said to focus on issues that include how Musk would compensate if the agreed deal does not go through before being consummated.
The talks are a shift of events as Twitter initially prepared to rebuff Musk’s offer, which was made on April 14. Musk is said to have met Twitter privately on Friday to discuss his proposal while reiterating that the board had a “yes-or-no” decision to make.
Musk insists that Twitter cannot take the stock to his offer of $54.20 a share, given the company’s persistent issues. He has promised to solve the free-speech concerns on the platform.
Investors are now turning on Twitter’s first-quarter earnings on Thursday, with Musk’s bid comments expected then or earlier.
TWTR: NYSE is up +4.74% on premarket.
