Twitter, the largest social media network, will likely accept Elon Musk's $43 billion deal to buy the whole company Image: Financial Times / Reuters Update: The board of Twitter has accepted a $44 billion (£34.5 billion) takeover offer from Tesla Motors CEO Elon Musk. Original Post: Twitter Inc will reportedly accept Elon Musk's $43 billion cash bid to acquire the firm, according to sources. In the offering document, he referred to the offer, which was valued at $54.20 per share, as his "best and final" attempt. Elon Musk, the world's wealthiest person according to a Forbes tally, is attempting to buy Twitter as a private individual. Tesla is not involved in the transaction. In pre-market trading, Twitter shares increased 4.5% in New York on Monday to $51.15. The sources said that Twitter's board will meet to propose the acquisition to shareholders later Monday, possibly after a press release announcing the $54.20-per-share agreement. It's always possible that the deal falls through at the last minute, according to the sources. Elon Musk also threatened to sell off his Twitter stake if the acquisition does not go through. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder." he wrote. According to sources, Twitter has not been able to obtain a "go-shop" provision in its deal with Musk that would allow it to seek competing bids once the contract is signed. By paying Musk a break-up fee, Twitter would be permitted to accept an offer from another party, the sources added. Elon Musk will be able to put up $33.5 billion of his own money for the bid, with $13 billion more coming from Morgan Stanley and other banks. Tesla's excellent Q1 results last week gave Musk an additional $23 billion in performance-based compensation, boosting his offer. To develop and become a genuine platform for free speech, Musk has argued that Twitter needs to be taken private. He wrote “As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced,” Elon Musk's bid to take Twitter private has attracted the attention of investors and analysts who are wondering if he is truly committed to running the company. The acquisition, announced on Sunday night, would come just four days after Musk unveiled a funding package to support it. This led Twitter's board to take the deal more seriously, and it sparked a debate among investors over whether or not the company should let such an opportunity go. On April 2, Elon Musk informed the exchanges that he owns a 9.2 percent stake in the firm, making him its largest individual shareholder. He was subsequently invited to join the Twitter board by company chief executive officer Parag Agrawal. Musk, on the other hand, ruled out of joining the board. What do you think about this news? Let us know below. For latest news in your hands Follow us on Google News.