Twitter accepted tesla ceo Elon Musk’s $44 billion offer.

Musk will pay $54.20 a share for Twitter in cash.

Twitter will become a privately held company.

The news comes one day after Twitter’s board of directors

and Musk met to hash out details of the proposal.

Shares of Twitter were pause earlier Monday afternoon citing news pending..

The stock was up 5.5% to $51.65 before the pause.

Twitter was largely expected to overlook Musk’s offer.

But Twitter grew more receptive to the bid after Musk said last week

that he has the funding to take Twitter private.

Twitter’s coming earnings report, may have affected the deal’s timeline.

Reviewers analyzed by FactSet expect Twitter to post a first-quarter profit of 5 cents

A year earlier, Twitter earned 16 cents a share on revenue of $1.04 billion.

the stock has increased more than 13% including a growth of nearly 7%