Elon Musk Reverses Course , and Offers to Proceed , With Twitter Buyout.
'The Independent' reports that Elon Musk
has offered to buy Twitter for his
original offer price of $54.20 a share.
'The Independent' reports that Elon Musk
has offered to buy Twitter for his
original offer price of $54.20 a share.
Bloomberg first reported on a letter to Twitter containing Musk's proposal that was later confirmed by NBC.
Bloomberg first reported on a letter to Twitter containing Musk's proposal that was later confirmed by NBC.
Previously, the billionaire had been trying to exit the $44 billion deal, citing the number of bots on the platform.
Previously, the billionaire had been trying to exit the $44 billion deal, citing the number of bots on the platform.
On October 17, Musk and Twitter were scheduled to appear in a Delaware Court of Chancery to determine the fate of the deal.
However, now it is unclear whether
that court appearance will proceed.
On April 14, a securities filing revealed that
Twitter had been offered $44 billion
by Musk to buy the company outright.
On April 14, a securities filing revealed that
Twitter had been offered $44 billion
by Musk to buy the company outright.
After initially attempting to thwart
the takeover, Twitter ultimately
agreed to the deal on April 25.
In May, Musk announced that the deal was "on hold"
while he sought additional information regarding spam,
bots and fake accounts on the social media platform.
In May, Musk announced that the deal was "on hold"
while he sought additional information regarding spam,
bots and fake accounts on the social media platform.
The Tesla CEO and the world's richest man said that
he doubted Twitter's estimate that less than 5% of its
active accounts were spam or automated accounts.
The Tesla CEO and the world's richest man said that
he doubted Twitter's estimate that less than 5% of its
active accounts were spam or automated accounts.
Following the announcement,
Twitter filed a lawsuit attempting
to force Musk to complete the deal. .
Following the announcement,
Twitter filed a lawsuit attempting
to force Musk to complete the deal.
