Twitter gains, Tesla falls on report deal with Musk may be reached on Monday (update)
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Update 12:53pm: Updates shares, adds WSJ reporting on price, timing.
Twitter (NYSE:TWTR) rose 6.2% helped by a report that a deal with Elon Musk may be reached as early as Monday. Tesla (NASDAQ:TSLA) shares fell about 1% and SPAC Digital World Acquisition (DWAC), which is taking Trump's Truth Social social media platform public, dropped 14%.
Twitter is said to be in the final stretch of negotiations with Musk for a transaction, according to a Bloomberg report. Talks are still fluid and a deal may be delayed or fall apart.
A deal may value Twitter at $44 billion, or $54.20/share, and a transaction may be announced after the market close on Monday or sooner, according to the latest WSJ report. It's not known why the value of the deal appears to have increased from the original $43 billion, though it may be related to an increased share count.
Separately, Reuters earlier reported that Twitter is expected to accept Musk's "best and final" offer of $54.20/share. 
The Bloomberg item comes after WSJ and other media on Sunday reported that Twitter (TWTR) and Musk representatives were meeting to discuss a potential deal and that an agreement may be reached as soon as this week. The social media platform became more serious about a transaction with the Tesla (TSLA) founder after he revealed his financing for a $43 billion deal last week.
Twitter is expected to discuss the bid when it reports Q1 results on Thursday or possibly sooner, the WSJ reported on Sunday.
Shares of SPAC Digital World Acquisition (DWAC) fell in premarket trading amid concern about increased competition from Twitter and the possibility that Musk could allow Trump to rejoin the social media company.
Earlier, U-turn: Why is Twitter seriously considering Elon Musk's bid?