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Twitter U-turn: Musk confirms purchase after all

2022-10-05T03:20:00.374Z


Twitter U-turn: Musk confirms purchase after all Created: 05/10/2022 05:11 Elon Musk wanted to burst the deal with Twitter. The intelligence service sued the billionaire. Now the turn. Update from October 4, 10:08 p.m .: The online service Twitter confirmed on Tuesday the receipt of a new purchase offer from US billionaire Elon Musk. "It is the Company's intention to complete this transaction,"


Twitter U-turn: Musk confirms purchase after all

Created: 05/10/2022 05:11

Elon Musk wanted to burst the deal with Twitter.

The intelligence service sued the billionaire.

Now the turn.

Update from October 4, 10:08 p.m .:

The online service Twitter confirmed on Tuesday the receipt of a new purchase offer from US billionaire Elon Musk.

"It is the Company's intention to complete this transaction," the company wrote in its own short message service.

The purchase will take place at the price of $54.20 per share originally offered by Musk.

Musk buys Twitter after all - confirmation official

Update from October 4, 9:35 p.m .:

Tech billionaire Elon Musk now wants to complete the multi-billion takeover of the online service Twitter.

The Tesla boss confirmed this on Tuesday in a mandatory notification to the US Securities and Exchange Commission.

In this way, the legal dispute over the billion-euro deal could be avoided shortly before the eagerly awaited court case.

In a letter, Musk suggested that the deal be completed at the originally agreed purchase price of $54.20 per share, his lawyers said, confirming a report by the Bloomberg financial service.

This marks a spectacular turning point in the conflict surrounding the takeover, which cost around 44 billion dollars.

A statement from Twitter was initially not available.

The reasons for Musk's rethinking remained unclear for the time being.

Many experts assessed his chances in the court case as unfavorable from the start.

For months, Musk tried to portray allegedly false information from Twitter about the number of spam and fake accounts as a breach of the takeover agreements.

But whether that would be enough in court is doubtful.

Twitter reversal: Musk should now access it - the stock exchange suspends trading in shares

First report from October 4, 8:09 p.m.:

It was a back and forth. First Elon Musk announced that he would buy Twitter in a billion-dollar deal, but then he jumped off.

The news followed in July: Elon Musk is calling off the purchase.

Now he has apparently changed his mind again.

According to US reports, the deal should stand again.

The stock market reacted immediately.

Turnaround in the Twitter deal: Elon Musk apparently wants to buy the news service after all

There has apparently been new movement in the dispute over a takeover of the short message service Twitter by high-tech billionaire Elon Musk.

US media reported on Tuesday that the founder of the electric car manufacturer Tesla had suggested to Twitter that he buy the platform at the price agreed in April. 

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Citing insiders, Bloomberg

,

CNBC

and

The Wall Street Journal

reported that the tech entrepreneur renewed his original offer of $54.20 per share to Twitter.

That would be a $44 billion takeover of the online service.

The company initially did not comment.

Elon Musk apparently plans to buy Twitter after all.

Trading on the New York Stock Exchange in Twitter shares stopped (stock image).

© Angela Weiss/AFP

Turnaround in the Twitter deal two weeks before the start of the trial: the New York Stock Exchange stops trading

The stock then skyrocketed.

The New York Stock Exchange suspended trading in Twitter stock, citing "upcoming news."

At the beginning of July, Musk had the original deal burst – because of allegedly “false and misleading” information from the short message service.

The background is the number of spam or fake accounts on Twitter.

Musk accuses Twitter of overestimating the actual number of users.

Twitter rejects Musk's allegations and went to court

to force the controversial multi-billionaire to complete the takeover.

The trial was scheduled to begin on October 17, in just under two weeks, in the state of Delaware.

Elon Musk recently caused a stir via the news service.

He proposed a "peace plan" for the Ukraine war via Twitter.

(dpa / AFP)

Source: merkur

All news articles on 2022-10-05

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