Elon Musk becomes ready to buy Twitter at original price of $54.20 per share, says 'It will accelerate his aim to create everything app'
Tech billionarie and Tesla chief Elon Musk tweeted late Tuesday that buying Twitter will speed up his ambition to create everything app called 'X'.
- Twitter confirms Elon Musk is ready to complete Twitter Buyout deal.
- Musk tweets that buying Twitter will speed up his aim to create everything app 'X'.
- Musk proposes to buy Twitter for $44 billion with $54.20 per share.
New Delhi: Elon Musk is ready to complete Twitter buyout deal on the same valuation of $44 billion as proposed by earlier, Twitter confirmed it on Tuesday. Tech billionaire Elon Musk sent a letter to Twitter saying he will complete the deal he signed to buy the platform for $54.20 per share.
In a statement, Twitter investor relations wrote, “We received the letter from the Musk parties which they have filed with the SEC. The inention of the company is to close the transaction at $54.20 per share.”
This is another twist in a longtail 'Twitter buyout deal' saga which is hanging on a fine thread since the deal announcement at the starting of the year. Earlier, Musk had retracted from his Twitter deal with $54.2 per share saying Twitter misled him by not revealing the exact numbers of bot accounts. In that response, Twitter sued Elon Musk for cancelling the deal.
The latest report on the Twitter buyout deal comes ahead of the Delaware Court hearing on October 17, where the two sides are expected to clash over the multi-billion dollar buyout deal.
Late on Tuesday, Elon Musk tweeted that buying Twiter would accelerate his aim to create an “everything app” called X.
Buying Twitter is an accelerant to creating X, the everything app — Elon Musk (@elonmusk) October 4, 2022
Twitter received Musk's letter and intended to close the deal at the original price. Meanwhile, Musk asked to dismiss the shareholder lawsuit against him regarding the cancellation of the deal and subpoenaing the social media company’s former CEO.
(With Inputs from ANI & Reuters)