EXCLUSIVE: Elon Musk will finally buy Twitter
Is the legal battle over?
The dramatic developments surrounding the case of Elon Musk’s takeover of Twitter continue with yet another twist. Finally, Elon Musk will buy the well-known social network for $54.20 per share, as was the original plan.
Of course, the richest man in the world has a unique condition. Specifically, through a new letter sent to the United States Securities and Exchange Commission (SEC), he emphasized that he intends to complete the acquisition under the terms agreed in April, provided that the company withdraws the lawsuit against him, which would lead to both sides in court a few days from now.
For the record, in September the shareholders of Twitter also voted and gave the green light for the deal of 44 billion dollars . On the other hand, Musk’s legal team played one of its last cards when whistleblower Peiter Zatko, the company’s former security chief, came to shake up the case.
Of course, it should be noted that if Musk was forced to buy the company after the trial set for October 17, there was the possibility that he would have to pay some kind of compensation and possibly the buyout would not cost $54.20 per share, but quite a few more. Still, speaking to The Verge, Columbia University professor Eric Talley said he was surprised Musk didn’t ask for a lower price on the deal, a sentiment shared by Tulane University’s Ann Lipton.
So it seems that in the coming months, the social network will pass into the hands of Elon, despite their concerns about the percentage of bots on the platform.
Elon Musk’s new letter:
The confirmation from Twitter itself:
Twitter issued the following statement regarding today’s news: We have received the letter from Musk, which they filed with the Securities and Exchange Commission. The company’s intention is to close the acquisition at $54.20 per share.
