Musk's Twitter deal set to go with original $44 billion price tag
Twitter appears set to move forward with deal to buy Twitter from Elon Musk, announcing in Oct. 4 post that he intended to close the transaction at $54.20 per share.
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In an unexpected twist, Tesla CEO and billionaire Elon Musk looks set to complete his $44 billion acquisition of Twitter, alleged spambots, fake accounts and everything in between.
According to the notice filed Monday by Musk's attorneys with the Delaware Chancery Court, which was overseeing the lawsuit, Musk is ready to "proceed to close the transaction contemplated by the April 25 merger agreement 2022".
This follows months of legal drama with the social media platform where Musk tried to back out of the deal, citing Twitter's lack of transparency regarding spambots, fake accounts and health company, and came just weeks before a court date fast approaching to settle the case on October 17.
Musk's proposed deal is conditional on there being "an immediate stay of action", an adjournment of trial and pending receipt of funding.
Twitter appears ready to accept the terms of the deal, announcing in an October 4 Twitter post that it intended to close the deal at $54.20 per share.
Twitter issued this statement on today's news: We have received the letter from the Musk parties that they have filed with the SEC. The Company's intention is to close the transaction at $54.20 per share.
— Twitter Investor Relations (@TwitterIR) October 4, 2022It's unclear if the impending court date caused Musk to change his mind. However, the founder of Telsa and SpaceX has already announced plans for the platform after it takes ownership.
The purchase of Twitter is an accelerator to create X, the universal application
— Elon Musk (@elonmusk)
Twitter appears set to move forward with deal to buy Twitter from Elon Musk, announcing in Oct. 4 post that he intended to close the transaction at $54.20 per share.
New
In an unexpected twist, Tesla CEO and billionaire Elon Musk looks set to complete his $44 billion acquisition of Twitter, alleged spambots, fake accounts and everything in between.
According to the notice filed Monday by Musk's attorneys with the Delaware Chancery Court, which was overseeing the lawsuit, Musk is ready to "proceed to close the transaction contemplated by the April 25 merger agreement 2022".
This follows months of legal drama with the social media platform where Musk tried to back out of the deal, citing Twitter's lack of transparency regarding spambots, fake accounts and health company, and came just weeks before a court date fast approaching to settle the case on October 17.
Musk's proposed deal is conditional on there being "an immediate stay of action", an adjournment of trial and pending receipt of funding.
Twitter appears ready to accept the terms of the deal, announcing in an October 4 Twitter post that it intended to close the deal at $54.20 per share.
Twitter issued this statement on today's news: We have received the letter from the Musk parties that they have filed with the SEC. The Company's intention is to close the transaction at $54.20 per share.
— Twitter Investor Relations (@TwitterIR) October 4, 2022It's unclear if the impending court date caused Musk to change his mind. However, the founder of Telsa and SpaceX has already announced plans for the platform after it takes ownership.
The purchase of Twitter is an accelerator to create X, the universal application
— Elon Musk (@elonmusk)What's Your Reaction?
