Here We Go Once More Twitter accepts Musk’s buyout proposal

When it appeared that this mess could only be resolved through litigation, Musk backtracked and made an offer to purchase Twitter at his asking price. He promised to do so, but only provided the legal process was halted. We do wonder if Musk had a change of heart or if the costs of the litigation would be too costly to be worthwhile, but anyway, the offer was back on the table and Twitter just said a resounding “yes,” making it all official.

Twitter Investor Relations tweet

Twitter As of now, Twitter has declared its desire to consummate the transaction at Musk’s earlier-this-year bid price of $54.20 per share. It’s difficult to tell whether Musk’s motion is being granted or denied because there has been no word of what will happen to the legal dispute.

Will the agreement be finalized? It might very easily. With a potential lawsuit hanging over his head, Elon Musk recently sold a staggering $6.9 billion worth of Tesla shares (via BBC News ). Now, if he can purchase the social networking site and sidestep the entire mess, it would make this transaction even more alluring than it already was.


Related Posts