Musk changed the mind and will buy Twitter at the original negotiated price


After months of litigation, Elon Musk announced he will buy Twitter Inc. at the original negotiated price of $54.20 a share, so he will acquire the company for $44 billion. He made the proposal in a letter to Twitter on Monday. „On behalf of X Holdings I, Inc., X Holdings II, Inc. and Elon R. Musk (the “Musk Parties”), we write to notify you that the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement, on the terms and subject to the conditions set forth therein and pending receipt of the proceeds of the debt financing contemplated thereby, provided that the Delaware Chancery Court enter an immediate stay of the action, Twitter vs. Musk, et al. (C.A. No. 202-0613-KSJM) (the “Action”) and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court.”


Twitter said it received the letter and intends to close the deal at the agreed-upon price. Twitter shares fell 0.6% in premarket trading after closing 22% higher at $52 in New York on Tuesday. Possibly Musk will increase Twitter’s value with a new team.