Twitter accepts Elon Musk’s multi-billion dollar offer to buy the app for $54.20 a share

Twitter has confirmed that it will accept Elon Musk’s multi-billion dollar bid to buy the company.

The Tesla and SpaceX CEO recently announced his intentions to purchase in a letter to Twitter.

Elon Musk wants to buy Twitter


Elon Musk wants to buy Twitter

The official Twitter Investor Relations account tweeted: “Twitter made this statement on today’s news:

“We received the letter from the Musk parties that they filed with the SEC.

“The Company intends to complete the transaction at $54.20 per share.”

Musk previously backed out of the original Twitter deal over a bot dispute.

The billionaire is embroiled in a legal battle for trying to exit the previous $44 billion deal.

The Tesla CEO has reportedly made a change of heart.

Musk originally changed his mind about Twitter because he believed the app was full of bot accounts.

This was vehemently denied by the company.

However, Musk wanted to do his own investigation and ended up in a court battle over the matter.

Corresponding Bloombergan insider recently revealed the news of Musk’s letter but does not wish to be identified.

Shares on Twitter have soared on reports of Musk’s letter.

Dan Ives, an analyst at Wedbush Securities, told The US Sun, “This is a clear sign that Musk has realized en route to the Delaware court that the odds of winning against the Twitter board are highly unlikely and this $44 billion deal would close one way or the other.

“Being forced to close the deal after a long and ugly court battle in Delaware was not an ideal scenario and instead accepting that path and moving forward with the deal will save a massive legal headache.”

“Now Musk will own Twitter and close this deal at what appears to be the agreed price of $44 billion.

“We see minimal regulatory risk in this deal, although Musk, who owns the Twitter platform, will now unleash a firestorm of concerns and questions for users and the Beltway for the future.” Twitter accepts Elon Musk’s multi-billion dollar offer to buy the app for $54.20 a share

Fry Electronics Team

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