Musk offers to end the Twitter purchase deal at the original price

It was reported Tuesday that Elon Musk has offered to go ahead with the Twitter acquisition deal at the original agreed price, just weeks before the opening of trial sessions in Twitter’s lawsuit against him for trying to withdraw from the deal. And US media said that the richest man in the world sent a letter to Twitter pledging to respect the acquisition price of $ 54.20 per share, which led to a significant jump in the value of the social network’s share and the suspension of trading with it. The final turn in the acquisition deal comes less than two weeks before the start of the trial in the lawsuit filed by Twitter to compel the Tesla chief to implement the deal he signed in April worth $ 44 billion. Musk appeared to back off shortly after he signed the deal, saying in a letter in July that he intended to cancel the purchase because he had been misled about the number of fake accounts, allegations that Twitter rejected. In July, a Delaware judge agreed to speed up the trial at the request of Twitter, which said the takeover bid was hampering its financial performance. Experts considered that Musk was convinced that his chance of winning the case was highly unlikely, and that this deal would be completed one way or another. Twitter’s stock rose 12.7 percent to $47.95, before the New York Stock Exchange halted trading after Bloomberg’s report on a possible new takeover offer. Musk surprised many investors with his bid to acquire Twitter, and raised activists’ concerns about the possibility of lifting the ban on Donald Trump and the possibility that he would open the door to disinformation. On Monday, Musk engaged in an argument on Twitter with Ukrainian President Volodymyr Zelensky after he presented a set of ideas to end the war, including recognizing Russia’s sovereignty over Crimea and maintaining Ukraine’s neutrality.

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