Twitter shares rise as reports say Elon Musk deal near to final

Picture courtesy: Getty images/BBC

Twitter is now in the final stages of negotiations with Mr Musk to buy the business. The billionaire could take over the company as soon as this morning as the board reportedly looked set to accept his offer of $54.20 per share.

Twitter shares soared by five per cent in premarket trading today to $51.50 a share amid reports it would be seized by Musk.

The two sides were reportedly working into the early morning to finalize the 'fluid and fast-moving' negotiations.

The company's decision to engage with Musk, taken earlier on Sunday, does not mean that it will accept his $54.20 per share bid, the sources said. It signifies, however, that Twitter is now exploring whether a sale of the company to Musk is possible on attractive terms, the sources added.