Twitter Shares Jump As Deal Talks Enter "Final Stretch"

Update (0750ET): Here comes Reuters with the latest on the Musk-Twitter deal. Their three-sentence scooplet includes two notable details.

The first is that Musk and Twitter are indeed negotiating on the basis that his offer of $54.20/share (which would value the company at $43 billion).

The second is that the deal would preclude a "go-shop" provision (something we discussed below and for the first time earlier this month) allowing Twitter to solicit rival bids - although the company would still be allowed to take a rival offer if it pays the Musk group a break-up fee (agreements like these are pretty standard fare). 

Update (0725ET): As journalists race to out-scoop each other on the news of an imminent deal between Elon Musk and his backers (including Morgan Stanley) and the Twitter Board, the latest update via Bloomberg and CNBC claims talks are now in the "final stretch" and a deal could be sealed as early as today - assuming negotiations continue to go "smoothly".