TwitterShares rose by more than 5 percent in premarket Monday, fueled by reports that Elon Musk is close to signing a contract with the company.

Musk in the beginning of this month offered to buy TwitterFor $54.20 per share or approximately $43 billion It was expected that the social media giant would decline to sign a contract and instead had chosen a “fair share price” of $54.20 per share, or approximately $43 billion. “poison pill”Protect the company from a hostile takeover

After Musk’s revelation, Twitter was more open to accepting a bid. secured $46.5 billion in financing.

Twitter’s Board met on Sunday to review Musk’s proposed financing plan. source close to the situation told CNBC. According to the person, the board was open to other offers. The company may provide updates by Thursday’s financial results or earlier if necessary.

Bloomberg News reportedBoth sides might reach an agreement Monday. According to reports, Musk met the board to discuss negotiations into Monday morning. The New York Times.

There are many variables that could affect the final agreement. Reuters reportedAn agreement may still be broken on Monday

This is the latest news. Stay tuned for new updates.