Elon Musk offered to proceed with a deal to buy Twitter. Here's what to know
n yet another U-turn, Elon Musk offered to proceed with a deal to buy Twitter for $54.20 per share Tuesday in a proposal that would pave the way for the completion of his $44 billion takeover of the company and avoid the continuation of a costly legal battle.Musk had agreed to buy Twitter at that price in April before attempting to back out of the deal in July, claiming the social media company had misled him about the number of fake accounts, or “bots,” on the platform.
In an email to staff seen by TIME, Twitter’s General Counsel Sean Edgett said that the company intended to close the deal with Musk at $54.20 per share. Twitter shares surged earlier Tuesday after Bloomberg News reported that Musk had offered to purchase the company on the original terms, before trading was temporarily halted shortly after midday. A
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