Tesla CEO Elon Musk Has Proposed Again To Buy Twitter 

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06 Oct 2022
min read

News Synopsis

Elon Musk, CEO of Tesla, is reported to have again proposed to purchase Twitter at $54.20 per share, the same price he did in April of this year before calling off the $44 billion takeover agreement.

A media agency reports that Musk has written to Twitter offering to purchase the microblogging platform for the initial asking price.

If accurate, the action has caused millions of people to become confused since the Musk-Twitter legal dispute is scheduled to start on October 17 in a US court.

Neither Twitter nor Musk responded to the report. According to The Verge, trading in Twitter shares was briefly suspended.

The new report was released at the same time that a new cache of texts between Musk and senior Twitter officials like CEO Parag Agrawal and Jack Dorsey were made public. Musk's $44 billion buyout offer for Twitter has already been approved by the company's shareholders.

The vote took place as Musk's legal team fought to break out of the agreement in court. A preliminary count indicates that Twitter has enough votes to pass the agreement, which was verified by Twitter.

With the approval, Musk and Twitter can now move forward with a trial scheduled for the Delaware Court of Chancery in October. The media has reported, citing a court filing, that the richest man in the world spent the entire night texting Oracle Chairman and CTO Larry Ellison before he made the $44 billion takeover of Twitter decision in May.

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