Elon Musk has once more offered to repurchase Twitter at the previously agreed-upon price of $54.20 per share.
After this news, shares of Tesla increased as investors expected strong December quarter deliveries to support the gains.
Twitter soared 22% after Elon Musk filed his letter to complete the acquisition deal at its original price.
The news that Musk is offering to continue the $44 billion takeover was first published by Bloomberg.
Elon Musk attempted to back out of the agreement to purchase Twitter for $54.20 per share, or nearly $44 billion, earlier in April of this year.
Following this, Twitter sued Musk to uphold the agreement. In two weeks, the legal battle’s trial is set to begin.
Perhaps this offer will put an end to the protracted legal battle over
Now it’s up to Twitter to decide whether to accept Musk’s revised offer or push the billionaire into court to finalise the purchase.
As per the sources, Musk’s legal team makes it plain in the letter that the offer is only valid if Twitter dismisses its case.
A Twitter spokeswoman provided a few hints in a statement regarding the company’s future course.
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