The Wall Street Journal reported that the social platform was being reconsidered by Musk.
According to The Journal, sources close to the matter said that officials from the company will meet on Sunday to re-examine the offer, and that they may be more willing to negotiate with the billionaire after initially trying to block his purchase. A shareholder rights plan was used by the company to avoid a hostile takeover.
A person for the company did not respond to Insider's request on Sunday.
The pace has changed after the billionaire CEO of the electric car company confirmed $46.5 billion in financing, proving in a regulatory filing that he is locked in funding agreements from banks and other entities.
It also comes after Musk met with shareholders in a private meeting on Friday to continue to make his pitch for the bid and urge the importance of the board making a decision, WSJ reported.
The Journal's sources said that the bid will be addressed on the first-quarter earnings call on Thursday.
The battle for control of the social platform has been going on since Musk walked back his appointment to the board of directors. A few days later, Musk made a proposal to buy the company for $43 billion.
The shareholder rights plan was filed to prevent a takeover by flooding the market with discounted shares. Musk may use a tender offer to take the company over, according to experts.
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