- Elon Musk has reportedly proposed continuing his takeover of Twitter.
- The billionaire signed a contract to purchase Twitter in April but has been attempting to get out of it ever since.
- Twitter wants to force Musk to complete the acquisition at the original offer price of $54.20 per share.
According to sources, billionaire Elon Musk has proposed continuing his takeover of Twitter at the first offer price of $54.20 per share.
The report claims that Musk proposed the idea in a letter to Twitter. Trading was temporarily suspended as Twitter’s stock rose as much as 18 percent on the announcement.
The billionaire signed a contract to purchase Twitter in April but has been attempting to get out of it ever since. Musk claimed shortly after signing the agreement that Twitter had misled him about the size of its user base and the prevalence of bot accounts.
It’s worth noting that Musk and Twitter planned to go to court this month; Twitter wants to force Musk to complete the acquisition at the original offer price of $54.20.
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