A source familiar with the situation says that Tesla’s CEO has put his $54.20 per share offer back on the table.
Elon Musk and Twitter (TWTR) – Get Twitter Inc. Report to seem to have won their fight.
The billionaire CEO of Tesla (TSLA) – Get Tesla Inc. Report has finally decided to resubmit his original offer to buy the microblogging website for $44 billion, a source close to the situation told TheStreet, confirming what Bloomberg had said.
A source said that Musk will buy Twitter for $54.20 per share.
The source said that Musk and Twitter should each make their announcements.
TheStreet asked Twitter and Musk’s lawyers for a comment, but neither responded right away.
Musk made an offer on April 25, but on July 8, he took it back, saying that Twitter had lied to him about how many spam bots, or fake accounts, were on the site.
Twitter had filed a lawsuit against Musk and asked the Delaware Chancery Court to force him to keep his promise.
On October 17, a five-day trial was set to begin.
Twitter is surprised by the billionaire
A source said that on Oct. 3, the billionaire surprised Twitter by sending a letter asking the company to drop its complaint and saying he was going to buy the platform on the terms that were originally planned.
The letter has also been sent to the court in Delaware, but the source said that it is still sealed.
One important question is whether Twitter will pull its complaint right away or wait until the deal is done.
The Musk-Twitter story has gone in many different directions, and it’s not clear if it’s over or not.
The Musk-Twitter story has gone in many different directions, and it’s not clear if it’s over or not.
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At the beginning of April, the billionaire bought 9.2% of the platform. He then made a deal with the platform’s management that he would get a seat on the board. In exchange, he agreed not to buy 14% of the capital for a certain amount of time.
But a few days later, Musk ripped up the deal and said he wanted to buy the whole group. But after people yelled at each other in public, he took back his offer in the summer.
The Musk-Twitter story has gone in many different directions, and it’s not clear if it’s over or not.
At the beginning of April, the billionaire bought 9.2% of the platform. He then made a deal with the platform’s management that he would get a seat on the board. In exchange, he agreed not to buy 14% of the capital for a certain amount of time.
But a few days later, Musk ripped up the deal and said he wanted to buy the whole group. But after people yelled at each other in public, he took back his offer in the summer.
Musk had promised to relaunch Twitter by making it private. He had also said that if he took over Twitter, he would bring back former President Donald Trump’s account, which had been deleted after the events at the Capitol on January 6, 2021.
