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Social networksElon Musk and Twitter again on the road to redemption
Fifteen days before the trial scheduled between the two parties, the multi-billionaire made the same offer as in April to “offer” the social network. Twitter wants to complete the transaction “as soon as possible”.
According to CNBC, the agreement to buy Twitter by Elon Musk could be finalized as early as Friday or Monday.
AFP
Elon Musk offered Twitter on Monday to buy the social network at the price agreed in April, according to press reports, two weeks before the trial scheduled between the two parties on this eventful acquisition. Suddenly, on Tuesday, the listing of the Twitter action was suspended on the New York Stock Exchange, “pending information” after an article by Bloomberg, which revealed this new takeover offer from the boss of Tesla.
In the middle of the afternoon, in the United States, Twitter confirmed on Tuesday that it had received a letter from the boss of Tesla, who finally wants to buy the social network at the price agreed in April, 54.20 dollars per share. “The intention of the company is to complete this transaction” at the defined price, the San Francisco group tweeted after news of the twist was revealed by Bloomberg hours before.
The quotation had been suspended for the first time for five minutes, and the title had flown up to 18%, before being stopped again, at 12.7 percent.
According to the economic news agency, Elon Musk sent a letter to Twitter on Monday offering to acquire the platform for $54.20 a share, the price he originally offered. in the spring and which the board of directors had finally accepted. According to CNBC, the deal could be finalized as early as Friday or Monday.
“A Clear Sign”
The two parties had signed a contract at the end of April, but Elon Musk unilaterally reneged on this agreement in July. The group at the blue bird had then launched lawsuits to force him to honor his commitment, and everything indicated that he was well positioned to win.
“It’s a clear sign that Musk recognizes that his chances of winning against the Twitter board are very slim and that the $44 billion buyout was going to have to happen one way or another.”
“It’s a clear sign that Musk recognizes that his chances of winning against the board, in a Delaware court, are very slim and that the $44 billion buyout was going to have to happen somehow. another,” reacted analyst Dan Ives of Wedbush Securities.
Elon Musk had bombarded Twitter with criticism before and after the takeover deal was signed, accusing the platform of censoring users and failing to sufficiently crack down on spam and fake accounts. 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.
Trial scheduled for October 17-21
Faced with Twitter’s complaint, the president of the Delaware specialized court granted the company a quick trial, while Elon Musk wanted to wait until next year and was asking for astronomical amounts of data. The trial, if maintained, should theoretically take place from October 17 to 21.
The Musk clan seemed to have gained a point when Peiter Zatko, the former security chief of Twitter, fired in January, accused the group of major security breaches in late August, in a report submitted to US authorities. But during preliminary hearings with the judge, his lawyers seemed to struggle to substantiate the accusations on the false accounts.
A Twitter attorney pointed to two reports by data analytics firms the businessman hired, Cyabra and CounterAction, which put the rate at 11% and 5.3%, respectively. “None of these reports even remotely supports what Elon Musk said to Twitter and to the world in his July 8 letter,” attorney Brad Wilson told a hearing.
(AFP)