ElonMusk revived a bid to buy for Twitter at the original price of $54.20 a share, backtracking on his effort to quit the deal and potentially avoiding a contentious courtroom fight. Moneyweb BusinessNews
Elon Musk revived a bid to buy for Twitter at the original price of $54.20 a share, backtracking on his effort to quit the deal and potentially avoiding a contentious courtroom fight. Musk made the proposal in a letter to Twitter on Monday, according to a filing with the Securities and Exchange Commission that confirmed a Bloomberg report. Shares of Twitter climbed 22% to $52 at the close in New York.
” Musk has said he wants Twitter to be more like TikTok and WeChat, with many more highly engaged users. In the run-up to the planned Delaware proceedings, lawyers for both sides have fired cannonades of subpoenas at each other aimed at teasing out testimony and evidence. Musk’s side needed to demonstrate that Twitter violated the terms of the deal. Twitter alleged that Musk used the bots issue as a pretext for backing out a deal he no longer found economically sound.
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