This will be a huge win for Twitter shareholders and its lawyers.
Businessman Elon Musk is again ready to buy the social network Twitter at the previously agreed price of $54.20 per share. Thus, writes Bloomberg, he can avoid a potentially losing case in court.
Sources say Musk took to Twitter in a letter with a new proposal. Following the news, Twitter shares rose 18% and trading was halted.
So far, neither Musk nor Twitter representatives from San Francisco have responded to a request for comment on the letter and have not answered whether the company will accept this offer.
Recall that Musk has been trying to refuse for several months from the contract for the acquisition of Twitter agreed in April.
Billionaire claimed Twitter misled him about the size of its user baseand the number of bots among them. Twitter officials say Musk used the bot problem as an excuse to back out of a deal he no longer believed made economic sense.
Twitter sued Musk in July to to force the businessman to proceed with the purchase. The substantive trial was scheduled to begin on October 17.
Also read: Twitter is vulnerable to Russian and Chinese influence – whistleblower
However, the prospect of a trial for the mask was disappointing. Judge Kathleen St. Jay McCormick has repeatedly sided with Twitter in pretrial decisions.
Wedbush Securities analyst Dan Ives called Musk's chances of winning “very unlikely.”
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Business insider recently reported , that Musk wanted to “slow down” the deal to buy Twitter after Russia's invasion of Ukraine because he believed it wouldn't make sense if World War III broke out.
