Status: 10/04/2022 10:04 p.m
Tech billionaire Musk now wants to take over the online service Twitter as originally planned. Twitter said in a brief statement that they intend to complete the transaction as planned.
Tech billionaire Elon Musk now wants to complete the multi-billion takeover of the online service Twitter. The Tesla boss confirmed this in a mandatory notification to the US Securities and Exchange Commission.
In a letter, Musk suggested that the deal be completed at the originally agreed purchase price of $54.20 per share, his lawyers said, confirming a report by the Bloomberg financial service.
Spectacular turn
This marks a spectacular turning point in the conflict surrounding the takeover, which cost around 44 billion dollars. Musk actually voided the April purchase agreement in July because Twitter allegedly misrepresented the number of fake accounts on its platform. However, the company insisted on compliance with the purchase agreement and went to court.
The process is actually supposed to start in October to clarify whether Musk can withdraw from the takeover. The legal dispute could still be avoided with the latest turn of events.
In a brief statement, Twitter confirmed that it had received the letter with Musk’s renewed offer. The company intends to complete the transaction as planned.
“Apparently Elon Musk definitely wants to prevent a process,” Nils Dampz, ARD Los Angeles, on the renewed offer to Twitter
night magazine 00:08 a.m., 5.10.2022
Twitter shareholders had approved the sale
Twitter shareholders have already approved the sale to Musk. Therefore, the deal could be closed rather quickly in the coming weeks should both parties agree on the original terms.
With the purchase, the richest man in the world would take over one of the most influential media platforms. Musk could potentially convert Twitter from an to a subscription model. In addition, services such as money transfers could be made possible. So far, Musk’s plans for Twitter have included taking the company public and hiring new management.
Is Trump Returning to Twitter?
The deal would also have a political dimension, at least in the US. Supporters of former President Donald Trump hope Musk would unblock his user account. The Republican was banned from Twitter after his supporters stormed the Capitol on January 6, 2021. A return could come just in time for Trump with a view to a possible candidacy in the 2024 presidential election.
Musk emphasized from the start that he was not interested in the Twitter takeover for money, but rather to strengthen freedom of speech on the platform.