Twitter Deal: Tesla CEO Elon Musk has proposed to buy Twitter at the original offer price of $54.20 per share. Bloomberg News has given this information on Tuesday. Elon Musk signed a deal with Twitter in April for about $44 billion at $54.20 per share. After this deal, a standoff started between Elon Musk and Twitter. After which Musk canceled the deal.
The dispute between Elon Musk and Twitter is to be heard in court this month. Twitter has sought to instruct Musk to complete the deal at $54.20 per share. Earlier, Elon Musk has made this proposal by writing a letter to Twitter. After halting trading for some time, Twitter shares have gained up to 18% after this news.
Musk alleges fraud on Twitter
Significantly, Musk had been trying for months to back down after the deal with Twitter in April. Alleging fraud on Twitter, Elon Musk said that while doing the deal, Twitter had given him misleading information regarding the business. Musk had said that when Twitter asked for details of bot accounts ie fake accounts, Twitter refused to give.
case went to court
Musk then warned Twitter of canceling the deal and then in July he canceled the deal. Tesla CEO had also applied in court regarding this matter. On August 27, while hearing the matter, the court had ordered Twitter to share the details of 9,000 accounts that were surveyed last year.
Twitter also did the case
After this, Twitter also filed a case and talked about completing this deal. The hearing of this case has been scheduled for this month. Apart from this, on September 14, the $ 44 billion buyout deal of Elon Musk was approved by the shareholders of Twitter.
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