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Elon Musk Proposes to Buy Twitter for Original Price of $54.20 a Share
Posted
October 4, 2022
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1:01Now PlayingElon Musk is proposing to buy Twitter Inc. for the original offer price of $54.20 a share, potentially avoiding a courtroom fight over one of the most contentious acquisitions in recent history.
Musk made the proposal in a letter to Twitter, according to people familiar with the matter, who asked not to be identified discussing confidential information. Shares in Twitter climbed as much as 18% on the news, and is now halted. Representatives for Musk and for San Francisco-based Twitter didn’t immediately respond to requests for comment.
Musk’s proposal to match the original deal terms means Twitter is facing a future under the leadership of a mercurial billionaire who has spent months publicly criticizing its management and questioning its value. It also means that his claims -- about how many of Twitter’s users are bots, for instance -- are not likely to be scrutinized in a courtroom.
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