Elon Musk Proposes to Buy Twitter : According to Bloomberg on Tuesday, Twitter\’s proposed acquisition by billionaire Elon Musk has been proposed to proceed at the first offer price of $54.20 per share. The proposal, according to the article, was made by Musk in a letter to Twitter. As a result of the news, the Twitter stock rose to 18%, and trade was briefly suspended.
After signing the agreement to purchase Twitter in April, the billionaire tried for months to get out of it. Musk claimed that Twitter deceived him about the size of its user base and the existence of bot accounts shortly after he signed the deal.
It is important to note that Musk and Twitter were scheduled to appear in court this month, with Twitter asking the judge to order Musk to complete the transaction at the initial offer price of $54.20.