Elon Musk proposes buying Twitter at his original price

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Elon Musk proposes buying Twitter at his original price

The Sydney Morning Herald2022-10-05

Elon Musk has proposed a deal with Twitter that could bring to an end the acrimonious legal fight between the billionaire and the social media company.The arrangement discussed on Monday evening (US ...

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江海豚
·2022-10-05
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Musk declared in July that he no longer intended to complete the acquisition because he believed Twitter’s service was overrun by spam.It was not immediately clear whether Twitter planned to accept his offer, which could be seen as a negotiating tactic by Musk to halt Twitter’s litigation against him. Shares in the social media company spiked almost 12 per cent on the news before a halt in trading.While an agreement would signify an end to the uncertainty clouding Twitter’s immediate future, Musk’s plans for the company are uncertain. Shareholders voted in September to approve the original deal with Musk, who told investors before attempting to back out of the deal that by 2025, he could get the company to 500 million daily users and revenue of $US13.2 billion.Twitter sued Musk in July to force the completion of the acquisition and was set for a showdown with the billionaire this month in a Delaware courtroom. 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