Twitter’s board is negotiating with Tesla CEO Elon Musk over his bid to buy the social media platform and a deal could be announced as early as Monday.
Musk has offered more than $40 billion to privatize the platform and pledged to be more lenient when it comes to policing users’ speech.
Twitter and Musk negotiated over his bid to buy the social media platform, The New York Times reported, less than two weeks after the billionaire first revealed a massive stake.
Musk said last week that he had lined up $46.5 billion in financing to buy Twitter, putting pressure on the company’s board to negotiate a deal.
Shares of Twitter rose 5 percent on Monday.