Elon Musk is buying Twitter again, for real this time
In April, Elon Musk announced that he was buying Twitter(opens in new tab) for $54.20 per share, a cash transaction that was going to end up costing him roughly $44 billion in total. Before long, however, buyer's remorse set in(opens in new tab). He tried to get out of the deal, Twitter tried to keep him in, and after months of legal wrangling(opens in new tab) (and, presumably, millions more spent on lawyers), Musk is once again planning to buy Twitter for—wait for it—$54.20 per share.
Twitter confirmed the resurrected deal, saying that it «received the letter from the Musk parties which they have filed with the SEC» and that it plans to «close the transaction at $54.20 per share.»
Twitter issued this statement about today's news: 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.October 4, 2022
The filing, available here(opens in new tab), states that Musk «intends 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.» The only condition is that the courts immediately stay and adjourn the lawsuit between Musk and Twitter.
Musk's legal representatives sent a similar letter to Twitter on October 3, noting the same conditions and stating that the offer comes «without admission of liability and without waiver or prejudice to any of their rights» if the lawsuit with Twitter isn't stayed or Twitter, for whatever reason, refuses to agree to the resumption of the deal.
Musk hasn't tweeted about his reasons for reversing his reversal, but a
Read more on pcgamer.com
