Elon Musk confirmed his intention to follow out the agreement he signed this year to buy the platform for $44 billion in a letter to Twitter on Tuesday. Twitter then relayed this information to US regulators.
The goal of the company is to complete the acquisition for $54.20 per share, Twitter stated in a tweet.
She speculated that Musk may have resolved to forgo his legal battle to rework the agreement.
The letter’s demands included that the court immediately halt all proceedings against Musk, who was due to be put on the stand later this week.
A Delaware judge approved in July to quicken the trial of Twitter’s claims, which the company claimed were hurting its ability to make money.
According to Wedbush analyst Dan Ives, Musk understood that the likelihood of his succeeding in court was “extremely unlikely” and that the $44 billion deal would go through regardless.
” AP source.
Twitter admits that it has received a purchase offer from Musk for the platform at its initial price.
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