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Folded: Elon Musk is expected to buy Twitter for 44 billion dollars - voila! technology

2022-10-05T16:08:30.764Z

The richest man in the world returns to the original deal - and offered to purchase Twitter for 44 billion dollars. The report was published two weeks before the two sides were due to meet in court



Folded: Elon Musk is expected to purchase Twitter for $44 billion

The richest man in the world returns to the original deal - and offered to purchase Twitter for 44 billion dollars.

The report was published two weeks before the two sides were due to meet in court.

They confirmed things on the social network

Yanon ben Shoshan

05/10/2022

Wednesday, 05 October 2022, 19:00

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Twitter (Photo: Reuters)

The richest man in the world and the CEO of Tesla and SpaceX, Elon Musk, offered to purchase Twitter at the original agreed price - $44 billion ($54.20 per share), according to a report published yesterday (Wednesday) by the Bloomberg news agency. Following the report, trading in Twitter shares It was temporarily suspended after it jumped by 12.7%.

Shortly after the publication, the details were confirmed on the social network

.



"We received the letter from Musk's people that they submitted to the Securities and Exchange Commission.

The company's intention is to close the deal at $54.20 per share," reads an official announcement from Twitter. On October 17, the two parties were scheduled to meet in court in Delaware, as part of Musk's attempt to get out of the deal. This, after last April Elon Musk announced the purchase Twitter - and retracted it. According to him, the company misled him about the number of users on the social network and the number of fake accounts.

In the lawsuit filed by the social network, it is claimed that the merger contract signed by Musk in April is "binding" and legally he must complete the deal.

In addition, Twitter rejected Musk's claims and called them "baseless excuses", explaining that the data he received was based on a misunderstanding of how the company links bots and fake accounts on its platform.



If both parties agree to continue with the terms of the original deal, the months-long legal battle will come to an end.

Last week, hundreds of private text messages from Elon Musk were published that deal with Twitter as part of the lawsuit that is being held in court, and a peek at the conduct behind the scenes.

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Source: walla

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