Twitter confirms it intends to close deal with Elon Musk

Twitter has — as soon as once more — to Elon Musk’s proposal to purchase the corporate for $54.20 a share. In a press release, Twitter confirmed it had acquired Musk’s letter that “the intention of the Firm is to shut the transaction at $54.20 per share.”

The settlement follows months of authorized drama after Musk tried to again out of his to purchase the corporate for $44 billion this spring. The 2 sides had been set to go to trial later this month as Twitter tried to power Musk to maintain up his finish of the settlement. Musk had claimed Twitter had misled him in regards to the variety of bots on the platform, and had raised about points disclosed by the corporate’s former head of safety who filed a whistleblower criticism in opposition to the corporate.

However Musk, as soon as once more, abruptly reversed course on Tuesday, telling Twitter that he could be keen to proceed with the unique phrases of the deal. Within the letter filed with the SEC, Musk’s legal professionals say they’ll go forward with the unique settlement struck in April if Delaware Chancery Courtroom will “adjourn the trial and all different proceedings associated” to the continued lawsuit.


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