LONDON (Finance Yahoo) - Twitter’s shares rose by about 4% in opening trade in New York on speculation the firm could agree a takeover deal with Elon Musk as early as Monday.
The board of the social media giant is reported to have met with Musk over the weekend to discuss his $43bn offer.
Twitter had initially rebuffed the billionaire’s approach.
But according to reports, Twitter is now in the final stages of negotiations with Musk to buy the business.
Reuters, the news agency, reported that an announcement may come later after Twitter’s board met and recommended a deal to its shareholders.
Shares rose almost 4% to $50.62 on the reports, but remained below Musk’s offer price of $54.20 a share.
Musk’s targeting of Twitter has moved at remarkable speed. It emerged at the beginning of April that Musk, who is the boss of electric carmaker Tesla, had become the largest shareholder in Twitter with a 9.2% stake.