Elon Musk proposes to buy Twitter for originally agreed $44 billion

Elon Musk has offered to buy Twitter for the originally agreed price of $44 billion.

Tesla’s chief executive initially agreed to buy Twitter for $54.20 a share in April before announcing in July that he intended to get out of the deal, fearing the company had regulators and investors over the number misled by the fake accounts on the platform.

Twitter sued Musk to complete the deal, arguing that his attempt to pull out was motivated by protecting his financial interests during a downturn in tech stocks and not by legitimate account number concerns. A trial should begin later this month.

Shares on Twitter rose about 13 percent to $48 before being halted after Bloomberg first reported that Musk was proposing to proceed with a deal.

https://www.ft.com/content/62c7f674-19ef-45b5-a324-027f443fbde3 Elon Musk proposes to buy Twitter for originally agreed $44 billion

Adam Bradshaw

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