Elon Musk Twitter Deal: The business deal between the world’s richest man Elon Musk and microblogging platform Twitter is turning into a high voltage drama by the day. And now it has another interesting and surprising twist.
In fact, Elon Musk, who announced that he would buy Twitter in April and then pulled out of the deal a few months ago, has offered to buy Twitter again.
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For the past several months, Elon Musk seemed to be using all means to get out of the deal in April, but Bloomberg According to a report, Musk sent a takeover offer to Twitter on Monday night, which could end the legal battle between the two sides.
Meanwhile, Elon Musk has also made an interesting tweet today, drawing attention to the same thing;
Buying Twitter X is an accelerator for creating everything apps
— Elon Musk (@elonmusk) 4 October 2022
According to reports, Elon Musk’s new offer is actually similar to the one he made in April, which was to buy Twitter for $54.20 per share.
Recall that in April, Elon Musk signed an acquisition-related agreement with Twitter for about $ 54.20 per share for about $ 44 billion.
But later, Musk canceled the deal after being upset by the misrepresentation of alleged bots etc. on the Twitter platform. The dispute between Elon Musk and Twitter will be heard in the US court on October 17 this month.
Elon Musk Twitter New Deal: What’s Twitter’s Process?
Twitter has yet to accept Elon Musk’s new proposal, and according to experts, the company is looking to add some conditions to the new proposal, to ensure that Elon Musk will again express his opinion as before. Can’t change easily.
But yes! Indeed, in a brief statement, Twitter acknowledged that it had received a letter from Musk, reiterating its intention to take over.
In fact, following Elon Musk’s latest move, which is now pending in court, Twitter may even pursue things like paying Musk interest on the deal price for the delay in completing the acquisition.
Obviously, if this agreement is reached, both the parties will get relief from the court case. Perhaps that’s why Musk sent out his new proposal on Twitter on Monday evening, telling the company he was ready to move forward with its original offer. Along with this, the resolution also said that the court battle should be suspended until the agreement is completed.
It also emerged that the two sides took part in an emergency virtual hearing on Tuesday to discuss a new motion before Judge Kathleen McCormick, who is overseeing the case.
Meanwhile, after the news of this new offer from Musk, Twitter’s share price was seen reaching $52, which can clearly be said to be an increase of about 22%.