After the 44 billion dollar deal collapsed
Elon Musk wants to buy Twitter after all
Will he? Doesn’t he want to? Tesla Green Elon Musk is now sticking to a purchase of the social media platform Twitter.
Backing down from backing down: Elon Musk could soon become a social media heavyweight.
Like the US news agency Bloomberg reported, Tesla founder Elon Musk (51) now wants the $44 billion deal with Twitter go through with it. According to the report, in a letter to the US Securities and Exchange Commission, Musk proposes to buy the company for the original offer price.
In a letter, Musk proposes to complete the deal at the originally agreed purchase price of $54.20 per share, his lawyers explain. Twitter also confirmed Musk’s purchase offer. However, all the uncertainty has still not been dispelled: Musk pointed out to the SEC that his offer depends on financing commitments.
Issue fake accounts
Trading in Twitter shares was briefly halted on Tuesday. The course then shot up by up to 18 percent.
Musk had been trying for months to exit its deal to acquire Twitter, signed in April. In July, he declared the purchase agreement invalid because Twitter had allegedly given incorrect information about the number of fake accounts on the platform.
The company insisted on compliance with the purchase agreement and went to court. The process is actually scheduled to begin on October 17 to clarify whether Musk can withdraw from the takeover. By buying at the originally agreed price, Musk could now avoid the process. (noo)