Elon Musk set to buy Twitter for original $44 billion offer price
Tesla CEO Elon Musk is proposing to go ahead with purchasing Twitter after terminating his $44 billion buyout deal earlier this year, which resulted in the social network starting legal action against the billionaire, who is seemingly wanting to make the case disappear by following through with the planned acquisition.
Earlier today, stockmarket trading in Twitter was halted as the share spiked following reports Musk would go ahead with the deal.
Musk acquired a 9.2% stake in the platform at the beginning of April for $2.89 billion, becoming one of the biggest shareholders in Twitter, with a more significant stake in the company than the former CEO, Jack Dorsey. Two weeks later, Musk proposed a $43 billion buyout of the company, with Twitter saying at the time that it would consider the offer “carefully.”
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