Elon Musk and Twitter are approaching an agreement for the sale of the social network: it could be confirmed this Monday

Twitter's board and Tesla CEO Elon Musk negotiated until early Monday their offer to buy the social media platform, The New York Times reported.

Musk said last week that he had secured $46.5 billion in funding to buy Twitter, pressuring the company's board to negotiate a deal.

The Times, citing people with knowledge of the situation it did not identify, said the two sides were discussing details, including a schedule and fees if an agreement was signed and then fell apart. Sources said the situation was fluid and fast.

According to Bloomberg, the agreement could be reached today.

Twitter had enacted an anti-acquisition measure known as the “poison pill” that could make an attempted takeover prohibitively expensive.

But the board decided to negotiate after Musk updated his proposal to show that he had secured funding, according to The Wall Street Journal, the first media in report that negotiations were under way.

“The potential change on Twitter's part comes after Mr. Musk met privately on Friday with several shareholders of the company,” the Journal reported. Musk “pledged to solve the freedom of expression issues that he considers to affect the platform and the country in general, whether his offer is successful or not,” the sources added.

He “made his presentation to select shareholders in a series of video calls, with a focus on actively managed funds... in the hope that they could influence the company's decision,” the sources told the Journal.

The WSJ said that Twitter could make an announcement about it on Thursday or even earlier, according to these sources.

On April 14, Musk announced an offer to buy the social media platform for $54.20 per share, or about $43 billion, but did not say at the time how he would finance the acquisition.

Musk reportedly recently told Twitter chairman Bret Taylor that his original April 14 bid of $54.20 per share has not changed, according to the Wall Street Journal.

Last week, he said in documents filed with US regulators that the money would come from Morgan Stanley and other banks, part of it guaranteed by his huge stake in the electric car manufacturer.

Twitter has not commented. The company had previously invited Musk to join its board of directors, but the head of SpaceX refused.

Musk has said he wants to buy Twitter because he doesn't feel that it lives up to its potential as a platform for freedom of expression.

In recent weeks, he has expressed a number of changes proposed for the company, from relaxing its content restrictions, such as the rules that suspended former President Donald Trump's account, to ridding the platform of its problems with fake and automated accounts.

Musk is the richest person in the world, according to Forbes, with a fortune of nearly $279 billion. But much of its money is tied up in Tesla shares (it owns about 17% of the company, according to FactSet, which is valued at more than US$1 billion) and SpaceX, its private space company. It's unclear how much cash Musk has.

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