Elon Musk informs Twitter that he is ready to buy the social media giant at the agreed $44 billion dollar

October 4, 2022 / By Ian Hayden Parker

Twitter on Tuesday showed its willingness for Telsa CEO Elon Musk to acquire the social network for $44 billion, as they had previously agreed.

“The company’s intention is to close the transaction for $54.20 a share,” Twitter wrote in reaction to a Musk proposal that was sent hours earlier to the company and to the US Securities and Exchange Commission ( SEC ).

Musk had been trying for months to back out of his Twitter acquisition deal, signed in April. Soon after, he began to show signs of buyer’s remorse, claiming that Twitter had misled him about the size of its user base and the prevalence of automated accounts known as bots.

This latest offer by Musk comes two weeks before the trial begins in Delaware for the lawsuit that sought to force the tycoon to proceed with the purchase.

Shares of the social network rose 22.24% this Tuesday to reach a value of 52.00 dollars. Along the same lines, Tesla shares closed at $249.44, which means a rise of 2.90% by the end of the Wall Street session.

Likewise, the New York stock market also saw a strong rise with the Nasdaq gaining 3.34%.

Twitter on Tuesday showed its willingness for Telsa CEO Elon Musk to acquire the social network for $44 billion, as they had previously agreed . . .

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