Everything back to the beginning: According to an insider, billionaire Musk wants to buy Twitter after all. He also agreed to pay more than $40 billion. The change of heart would come shortly before a scheduled trial because Musk previously wanted to withdraw from the announced purchase.
Tesla boss Elon Musk is now apparently ready to take over Twitter. He offered to complete the $44 billion deal on the terms he originally agreed to. The billionaire's lawyers communicated the proposal to representatives of the short message service on Monday night and submitted a confidential letter to the Delaware Chancery Court before an emergency hearing scheduled for today, an insider reported.
This is an unexpected twist that could allow either side to avert a high-stakes trial. Should Twitter accept the proposal, both sides would not have to go through a five-day trial without a jury, which is supposed to start on October 17th.
Musk canceled the April purchase agreement in July because Twitter allegedly misrepresented the number of fake accounts on the platform. The company insisted on compliance with the purchase agreement and went to court.
On the stock exchange, the reports of the 51-year-old's recent change of heart triggered cheers among investors. On Wall Street, the Twitter paper jumped up. At the top, the paper jumped over the $ 48 mark with a rate of more than ten percent. Musk initially offered $54.20 per share and is now renewing the offer. However, trading was suspended a little later. The New York Stock Exchange justified the move with "upcoming news".
