Elon Musk seems to be getting close to his goal of acquiring Twitter: several US media confirmed on Monday that the group to accept an offer The millionaire’s acquisition and the actions of the social network rose on Wall Street.

Newspapers of the little blue bird network, contrary to what happened in the stock market It rose 2.92% on the New York Stock Exchange. at $50.36 after gaining 4% earlier in the day.

cited in various sources. The New York Times, The Wall Street Journal Y CNBC, They point out that the group could announce it this Monday. Purchase of Tesla by its founder. In mid-April, Elon Musk offered to take over the entirety of Twitter at $54.20 per share and delist the platform from the New York Stock Exchange.

If the proposal is accepted, Twitter’s current value will increase from $38.5 billion to $43 billion.

Twitter, interviewed by AFP, has not commented so far.

Musk said last week $46.5 billion He was able to buy it from Morgan Stanley thanks to two bank loans and also his personal fortune.

He also considered directly launching a hostile takeover bid. through shareholders disable the board.

“When funding is threatened by a hostile takeover bid, the board cannot appeal to a second bidder,” said Dan Ives of Wedbush Securities on CNBC.

“This put them on a rock and hard and forced them to negotiate,” the analyst added.

meeting on sunday

According to the media, Twitter’s board met on Sunday to review the billionaire’s proposal.

First, the board was reluctant I’m considering using the so-called ‘poison pill’ substance to make it harder to obtain.

This clause states that if a shareholder owns more than 15% of Twitter’s capital, the board of directors reserves the right to sell shares belong to all other shareholders. Musk currently owns just over 9% of the social network’s capital.

On Friday, the South African businessman met with several shareholders via video call to defend the takeover bid.

Shortly after entering the group’s capital, Tesla’s eccentric founder was invited to join the firm’s board of directors, but he rejected the offer.

World’s richest man with over 82 million followers – wealth estimated $269 billion for forbes– He uses his Twitter account almost every day to post about his companies, make jokes and even start a provocation.

Musk has promised to transform the social network into a “worldwide free speech platform.” without giving details the changes you want to apply, if he had said he would exclude some functionality like a button to “change” the tweet after posting it.

Musk may also try to make Twitter more profitable and increase its user base.

The social network Twitter has already proposed changes to the paid subscription formula for Blue.

The San Francisco group will release its quarterly results Thursday before the opening on Wall Street.