Twitter shares jumped more than 5% in the premarket on reports the company is nearing a deal with ElonMusk that could be announced as soon as Monday. CNBC
It's unclear what a final deal could look like, and Reuters reported Monday that an agreement could still fall apart. Twitter has not been able to secure a"go-shop" agreement yet, which would allow it to look for other bids once it signs an accord, according to Reuters. The company could still accept another bid if Musk pays a break-up fee, it added.
Wall Street was likely to view the news of Twitter's openness to a bid"as the beginning of the end for Twitter as a public company with Musk likely now on a path to acquire the company unless a second bidder comes into the mix," Wedbush analyst Dan Ives said in a Sunday note.
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