Twitter, willing to accept the purchase by the director of Tesla, Elon Musk

Twitter, willing to accept the purchase by the director of Tesla, Elon Muskafter the tycoon backed down and returned to the agreed price in July.

The shares of the social network took flight after learning that the tycoon accepted the company’s offer. Shortly after the Bloomberg agency made the news public, the shares of the famous social network rose 13%, momentarily suspending trading after the sharp jump in its valuation.

The Tesla founder will buy Twitter for $44 billion, the amount he announced last July, which represents a payment of $54.2 per share. Musk’s final decision comes just two weeks before the start of the trial in which the company tried to force him to comply with the offer he made months ago, which he backed down, alleging that Twitter falsified data on fake accounts.

Twitter and Musk had agreed to acquire the company for that price, but the billionaire later backed out of the transaction, arguing that he had found a material breach of several provisions of the agreement, among them the number of false accounts accounted for by the company.