Twitter: does Musk want the takeover after all?

Twitter: does Musk want the takeover after all?

San Francisco, Oct. 3, 2022

Bloomberg reported Tuesday that Elon Musk plans to pursue his proposal to acquire Twitter at the original offer price of $54.20 per share. Unnamed sources said Musk made this offer in a letter to Twitter. Details of the letter were not available.

Twitter shares rose 15% on Tuesday after the news broke.

In April, Musk had offered to take Twitter private for $44 billion, or $54.20 per share, which was accepted by Twitter’s board.

He later tried to abandon the deal, citing a lack of data on the number of fake and spam accounts on the platform and other problems.

Twitter then sued Musk to force him to complete the transaction. The trial is scheduled to begin Oct. 17 in the Delaware Court of Chancery.