Twitter has decided to accept Musk's $43 billion offer.
Twitter Inc. is set to sell Elon Musk for about $ 43 billion.
The price has been described by Tesla Ang's chief executive as his "best and final" offer for the social media company.
Some observers have suggested that Twitter could announce a .20 54.20 per share deal on Monday.
But it does hold meetings to recommend the transaction to Twitter shareholders.
The source added that it is always possible that the agreement will be broken in the end.
According to Forbes, Musk is buying Twitter in his personal capacity.
This does not include a Tesla deal.
Sources say that Twitter has not been able to reach an agreement with Musk so far.
The source also said that Twitter was allowed to accept another party's offer by paying a break-up fee to Musk.
No one's name has been released yet as the matter has been kept secret.
Twitter and Musk did not immediately respond to requests for comment.
Shares of Twitter rose 4.5 percent to 51 51.15 in pre-market trading in New York on Monday.
Musk says Twitter needs to be privatized to grow and become a real platform for free expression.