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U-turn: Tech billionaire
Elon Musk
Photo: OLIVIER DOULIERY / AFP
According to Twitter insiders, Elon
Musk
(51) now wants to go through with the multi-billion dollar takeover of the online service.
Musk proposed this to the company in writing, the Bloomberg news agency reported on Tuesday, citing people familiar with the matter.
He is sticking to the price of $54.20 per share from his original offer.
Twitter stock skyrocketed after the news.
Then trading was initially suspended, resumed a little later and finally suspended again.
Musk announced the $44 billion acquisition in April, but backed out after the official offer was presented.
Among other things, he accused Twitter of false information about fake accounts and therefore considered the purchase agreement to be void.
Musk and Twitter have since sued each other.
The trial was scheduled to begin on October 17, 2022.
"Being forced to finalize the deal after a long and ugly court battle apparently wasn't an ideal scenario for Elon Musk," said Dan Ives of US investment firm Wedbush, "whereas instead accepting this path and moving forward with the deal will be massive for him legal headaches."
hr/dpa-afx, reuters
