Elon Musk Offers to Buy Twitter at Original Price, Reports Say

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Elon Musk, the magnate owner of Tesla and SpaceX, seems to have finally decided on the subject of Twitter. What happens is that, according to reports, days before the start of the trial, the tycoon decided to respect the original agreement to be the new owner of the social network.

According to information from Washington Post, 2 sources close to the negotiation assure that Musk sent a letter to Twitter on the night of October 3. In it, the millionaire says that he is ready to close the deal to buy Twitter in exchange for $54.20 USD per share and thus put an end to the entire legal conflict.

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For now, it is unknown if Twitter will accept the offer, but it is a fact that it is considering it. The company is expected to wait at least a day before revealing whether it plans to accept Musk’s offer or pass it up.

The problem is that, according to a source, there is mistrust between both parties to the agreement. In fact, Twitter leaders fear that Musk’s new letter is just a legal tool to get out of the deal without paying some kind of fine.

It is worth mentioning that Twitter’s shares in the market were frozen after this news came to light. This after they reached their highest value in months.

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What happened between Twitter and Elon Musk?

In case you have missed this legal conflict, let us tell you what happened. It all started in April 2022, when Elon Musk announced his intention to buy Twitter in exchange for $4.4 billion.

It was news that attracted a lot of global attention since it meant that an important tycoon was going to buy one of the most important Internet platforms. It also drew a lot of attention that Musk had controversial adjustments to Twitter, such as charging for citing tweets and cutting costs.

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A few weeks later, Musk began to cast doubt on the deal, citing concerns about the number of bot users on Twitter. In June, the tycoon gave the social network an ultimatum and by July 8 he confirmed that he was backing out of the agreement.

The above caused Twitter to sue Musk for breaking the agreement, assuring that they would seek compensation. This started a legal conflict that, to date, has no conclusion.

What do you think about this new? Do you think Twitter will do well in the hands of Elon Musk? Tell us in the comments.

Follow this link to see more news related to Elon Musk. On the other hand, here you will find all our Twitter coverage.

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