The Wall Street Journal reported Sunday that the social media company is re-examining Musk's offer to buy it and is more willing to negotiate with the billionaire.
There is a press conference at the Starbase facility near Boca.
According to the Journal, Musk met with some shareholders on Friday to discuss the deal, though he has reportedly continued to insist that he is not willing to negotiate on his offer of $54.20 per share.
According to the Journal, there is no guarantee that the company will accept Musk's terms, and the decision is dependent on whether the company's valuation is in line with Musk's offer.
Some shareholders have pressured the board to negotiate with Musk even though he explicitly stated in his offer letter the $54.20-a-share figure was his best and final offer.
Musk did not respond to the Forbes request for comment.
The offer will likely be discussed by the time the company releases its first-quarter earnings on Thursday, though it may not give Musk's demands a yes-or-no response, according to the Journal.
On April 4, Musk made an offer to buy the entire company for $54.20 per share, but it was unclear at the time how he would pay for it. According to Forbes, Musk is the richest person in the world with a net worth of nearly $270 billion. He revealed in a Thursday filing with the Securities and Exchange Commission that he would finance the purchase with more than $20 billion in loans from investment banks.
If the board of directors is skeptical of Musk's bid, he may try to skirt its decision through a tender offer, or an offer to buy shares directly from shareholders. The poison pill plan makes it difficult for him to buy more than 15% of the company. The plan will last until April 14, 2023.
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