Elon Musk renews plans to buy Twitter at originally agreed price

In another development, Tesla and SpaceX CEO Elon Musk has again agreed to buy Twitter for $54.20 per share — as originally planned.

Twitter shares are up 18% in value after the news tumbled, following a brief hiatus in trading.

  • as such mentioned By Bloomberg, people familiar with the matter claimed that Musk renewed his offering in a message to Twitter. They asked not to be identified, as they were discussing classified information.
  • Musk originally offered to buy Twitter for $54.20 a share — or roughly $44 billion — in April. He indicated his desire to make Twitter a “digital square” and better respect the principles of freedom of expression.
  • He also promised to rid the platform of spam and fraud issues that are particularly prevalent in coding community.
  • But hold on later retired و from the deal due to concerns that Twitter was misrepresenting the size of the spam problem. The platform claimed in May that 95% of the accounts were backed by real people.
  • After asking to verify those stats, Musk said in a filing in July that Twitter failed to provide information that didn’t come with strings or other features that would make the information “minimally useful.”
  • Despite Musk’s efforts, Twitter sued the billionaire soon after to force him to comply. In fact, the original merger agreement contained a clause that would have allowed Twitter to force it to complete the deal.
  • Twitter later The blame on Musk for contributing to the company’s shaky second-quarter earnings numbers by creating uncertainty about their deals in the first place.
  • As of 12:19 pm on Tuesday, Twitter’s stock is trading at $47.93.
  • Last week, Musk shared private messages with other billionaires – including Jack Dorsey – about his Twitter vision Back As part of his lawsuit with the company.

He appeared after Elon Musk renews his plans to buy Twitter at the originally agreed price for the first time on CryptoPotato.

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