It looks like the deal is back on, and Elon Musk will go through with the Twitter purchase:
The tumultuous saga of Elon Musk’s on-again off-again purchase of Twitter took a turn toward a conclusion Tuesday after the mercurial Tesla CEO proposed to buy the company at the originally agreed-on price of $44 billion.
Musk made the surprising turnaround not on Twitter, as has been his custom, but in a letter to Twitter that the company disclosed in a filing Tuesday with the U.S. Securities and Exchange Commission. It came less than two weeks before a trial between the two parties is scheduled to start in Delaware.
In response, Twitter said it intends to close the transaction at $54.20 per share after receiving the letter from Musk. But the company stopped short of saying it’s dropping its lawsuit against the billionaire Tesla CEO. Experts said that makes sense given the contentious relationship and lack of trust between the two parties.
“I don’t think Twitter will give up its trial date on just Musk’s word — it’s going to need more certainty about closing,” said Andrew Jennings, professor at Brooklyn Law School, noting that the company may also be worried about Musk’s proposal being a delay tactic. After all, he’s already tried to unsuccessfully postpone the trial twice.
Elon’s change of heart on the Twitter purchase comes off the heels of a Twitter poll Musk published regarding the Ukraine.
Ukraine-Russia Peace:
— Elon Musk (@elonmusk) October 3, 2022
– Redo elections of annexed regions under UN supervision. Russia leaves if that is will of the people.
– Crimea formally part of Russia, as it has been since 1783 (until Khrushchev’s mistake).
– Water supply to Crimea assured.
– Ukraine remains neutral.
For simply publishing the poll, Musk received widespread condemnation from the establishment. It also appeared that NATO-aligned bot armies mobilized to rig the result of the poll.
Wonder how many bots were activated to turn around the original result.
— Nemli-Nica (@Nemli_mot) October 3, 2022
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