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Tuesday, November 29, 2022

Musk again offers to buy Twitter for $54.20 a share: Report

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  • Musk Twitter has sent a letter offering to buy the microblogging platform at the originally proposed price.
  • Twitter or Musk did not comment on the report.
  • Trading in Twitter shares was briefly halted.


Tesla CEO Elon Musk has reportedly re-proposed to buy Twitter for $54.20 a share, the same price it originally proposed in April of this year before terminating the $44 billion acquisition deal.

According to BloombergMusk sent Twitter a letter offering to buy the microblogging platform at the originally proposed price.

The move, if true, has caused confusion in the minds of millions as the legal battle between Musk and Twitter will begin in a US court on October 17.

Twitter or Musk did not comment on the report.

Twitter stock trading has been halted for a while, The Verge reports.

The new report came at a time when a new wealth of text was being exchanged between Musk and Twitter executives such as CEO Parag Agrawal and Jack Dorsey was leaked into the public domain.

Twitter shareholders have already voted to approve Musk’s $44 billion takeover offer.

The vote came as Musk’s lead team was involved in a lawsuit to get out of the deal.

Twitter confirmed that a preliminary count shows it has enough votes to approve the deal.

The approval meant Musk and Twitter will move to an October trial in the Delaware Court of Chancery.

The richest man in the world also texted Oracle Chairman and CTO Larry Ellison all night before he decided to end Twitter’s $44 billion acquisition deal in May, the media reported, citing a court filing.

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