BREAKING: Twitter and Elon Musk reach buyout deal: report

Twitter and Tesla and Space X CEO Elon Musk's have reached a deal on the sale of Twitter.

According to the Wall Street Journal, Twitter and Musk have reached a deal, which will be announced formally on Monday.

While the deal was originally dismissed by CEO Parag Agrawal, Musk's offer of $54.20 per share was well above its current price, closing at $48.93 on Friday. The company's share has fallen considerably since last year, when shares were valued at over $60.

If Elon thought Mars was hard, he’s going to enjoy the new challenge of human nature. Beautiful times.— Cernovich (@Cernovich) April 25, 2022

According to the Wall Street Journal, Twitter was planning to reject Musk's April 14 offer, and looked at a plan to issue a "poison pill" to block him from increasing his stake.

Twitter changed its attitude and began negotiations after Musk announced that he had obtained the financing to back his bid, The Journal reported earlier Sunday.

According to Reuters, Musk "wooed many of the social media company's shareholders with financing details on his $43 billion acquisition offer," but noted that, per sources familiar with the process, "The company’s decision to engage with Musk… does not mean that it will accept his $54.20 per share bid," but that "It signifies, however, that Twitter is now exploring whether a sale of the company to Musk is possible on attractive terms."

I hope that even my worst critics remain on Twitter, because that is what free speech means— Elon Musk (@elonmusk) April 25, 2022

Musk tweeted on Monday afternoon, before the deal had closed, that he had hoped that his "Worst critics remain on Twitter, because that is what free speech means."