Twitter is set to agree a sale to Elon Musk for around $43 billion in cash, the price the CEO of Tesla has called his "best and final" offer for the social media company, a Reuters report said quoting people familiar with the matter.

 

Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said, adding it was still possible the deal could collapse at the last minute.

 

Musk, the world's richest person according to Forbes, is negotiating to buy Twitter in a personal capacity and Tesla is not involved in the deal.

 

The sources requested anonymity because the matter is confidential. Twitter and Musk did not immediately respond to requests for comment.

 

Musk, a prolific Twitter user, has said it needs to be taken private to grow and become a genuine platform for free speech.