Oh Lord, we are back at this story again and let’s hope this time around it is true. Twitter has issued a short statement that states the tech billionaire and Tesla founder Elon Musk is purchasing the platform for $44 billion.
The company tweeted through its Twitter investor relation account:
“We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share.” – Twitter Investor Relations (@TwitterIR).
The news development comes after Musk’s representative wrote to Twitter that their client [Elon] has decided to go ahead with the transaction.
“We write to notify you that the Musk Parties intend to proceed to the closing of the transaction contemplated by the April 25, 2022 Merger Agreement, on the terms and subject to the conditions set forth therein,” that’s according to the notice, which was filed with the Securities and Exchange Commission.
How did we get here?
Both Musk and Twitter went to court over the deal, with the Tesla and SpaceX founder claiming that Twitter had misled him over the number of bots that existed on the social network. Without providing evidence of his claims, Musk has alleged that as much as 20% of Twitter’s user base consisted of “fake/spam accounts.
