After months of going back and forth, elon Musk is proposing to buy Twitter now at the original share price of $54.20. According to reports, musk made the proposal in a letter to Twitter. And this comes just ahead of the October 17 trial in a Delaware court. Remember, Twitter is currently suing the Tesla CEO for walking away from that $44 billion deal to buy the social media platform. And this marks the latest chapter in a month long saga that started in January.
His was when Musk started investing in Twitter. Musk reached an accusation deal with Twitter. In April, he offered to buy Twitter at $54.20, thus valuing the social media platform at over $43 billion. But in the next weeks, the weeks that followed, the Tesla CEO raised concern over the number of spam accounts on that platform. In May, Marque said the deal was on temporary hold overbought concerns.
On the 8 July mask moved to terminate the Twitter deal soon after. On 12 July, Twitter sued Elon Musk to force him to complete the deal. Twitter stock trading was halted after it jumped 6.7% over the report that Elon Musk, in fact, over this latest report.