Elon Musk’s flip-flop, who again offers to buy Twitter – rts.ch

The American multibillionaire Elon Musk finally offered Twitter to buy the social network at the price agreed in April, two weeks before the trial scheduled between the two parties on this eventful acquisition.

The boss of Tesla “intends to conclude the transaction envisaged by the takeover agreement of April 25, 2022”, according to the terms provided, wrote his lawyers in a letter addressed to the Californian group on Monday, and filed Tuesday with the American stock market policeman, the DRY.

The only condition expressed in the letter: the end of the legal proceedings in progress before the specialized court of Delaware.

The title of Twitter took more than 22% on the New York Stock Exchange. He had previously been suspended all afternoon “pending information”, after an article by the Bloomberg agency revealing this rebound.

Elon Musk had offered in the spring to acquire the platform for 54.20 dollars per share, thus valuing it at 44 billion dollars. The board of directors of the social network, initially very reluctant, had ended up accepting.

Prosecutions initiated

The contractor unilaterally returned to this agreement in July. The group with the blue bird then launched a lawsuit to force him to honor his commitment, and everything indicated that he was well positioned to win.

On Tuesday, the group confirmed in a brief statement “to have received the letter” and to have the intention “to conclude this transaction” at the defined price.

Elon Musk had bombarded Twitter with criticism before and after signing the contract, including accusing the platform of censoring users.

Twitter Complaint

He justified his backtracking by saying that the proportion of automated accounts on the platform was well above the 5% figure put forward by the San Francisco company.

Faced with Twitter’s complaint, the president of the Delaware specialized court to deal with the case granted the company a quick trial, while Elon Musk wanted to wait until next year and was asking for astronomical amounts of data.

It was theoretically to be held from October 17 to 21, but it will not take place if Twitter accepts this new offer.


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