Elon Musk Proposes to Follow Through With Twitter Acquisition

Billionaire Elon Musk has once again reversed course in the ongoing Twitter acquisition saga, today sending a letter to Twitter proposing a purchase at the original price, reports Bloomberg.

twitter elon musk
Musk originally offered to buy Twitter for $44 billion in April ($54.20 per share), a deal that Twitter ultimately accepted. Musk in May put the takeover "temporarily on hold" because of a dispute over the number of fake or spam accounts that Twitter claimed to have. Twitter said that fake accounts represented less than five percent of users, but Musk was not convinced.

In July, Musk decided he no longer wanted to buy Twitter and attempted to call off the purchase, claiming that Twitter did not comply with its contractual obligations and that he was not provided with the relevant business information that he requested.

Twitter in turn filed a lawsuit to force Musk to go on with the sale, accusing him of trashing the company, disrupting its operations, and destroying stockholder value. Musk's decision to offer to continue on with the purchase comes ahead of a trial that was set to begin on October 17. With Musk once again on board, it is probable that the acquisition will go through, provided he does not change his mind again.

Top Rated Comments

levitynyc Avatar
9 weeks ago
He's the biggest fraud in the history of business. Guy has literally done nothing. Didn't even found Tesla.

Hes basically a business celebrity who makes money because he's a business celebrity.
Score: 49 Votes (Like | Disagree)
mikethemartian Avatar
9 weeks ago

He's playing them like a fiddle. Upsetting their stocks, quite deliberately in my opinion.
I think the fiddle is playing him.
Score: 37 Votes (Like | Disagree)
Jumpthesnark Avatar
9 weeks ago
A very stable genius.
Score: 33 Votes (Like | Disagree)
ProfessionalFan Avatar
9 weeks ago

Guy has literally done nothing.
Unless "literally" has a new definition, this is incorrect.

He's accomplished far more than any of us here, I guarantee that.
Score: 30 Votes (Like | Disagree)
Your Royal Highness Avatar
9 weeks ago

He's playing them like a fiddle. Upsetting their stocks, quite deliberately in my opinion.
That makes no sense because it didn’t help him in anyway, shape or form. He still buying it for the original purchase price.
Score: 26 Votes (Like | Disagree)
Eldaerenth Faexidor Avatar
9 weeks ago
Weird move. This whole acquisition debacle screams bipolar vibes.
Score: 25 Votes (Like | Disagree)

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