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Elon Musk agrees to buy Twitter [1]

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Date: 2022-10-04

Tesla (TSLA) CEO Elon Musk has agreed to move forward with his $44 billion deal to buy Twitter (TWTR), Bloomberg reported Tuesday, citing unnamed sources familiar with the matter.

Musk confidentially filed a letter seeking to proceed with the deal with Delaware Chancery Court Monday night just days before Musk was expected to be deposed as part of Twitter's lawsuit seeking to force the Tesla CEO to buy the company.

The Tesla CEO initially agreed to buy Twitter in April for $54.20 per share, which works out to $44 billion. He then said he was pulling out of the deal, claiming that Twitter wasn't providing enough information about the number of fake accounts bots it had on the platform. Twitter struck back against Musk in July, filing a lawsuit in Delaware Chancery Court with the hopes that Musk would be forced to buy the company.

Shares of Twitter surged on the news, rising more than 12.7% before being halted for volatility.

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[1] Url: https://www.dailykos.com/stories/2022/10/4/2126936/-Elon-Musk-agrees-to-buy-Twitter

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