Pak Sahafat – Bloomberg news channel reported: Elon Musk, the founder of “Space X” company, tried to avoid a controversial dispute in the court by re-presenting the offer to buy Twitter Company at the initial price of $54.20 per share.
According to Pak Sahafat News Agency’s report on Wednesday, Bloomberg wrote: Musk made the offer in a letter to Twitter, and the San Francisco-based Twitter Company confirmed it had received the letter and plans to close the deal at an agreed price.
The company has not specifically commented on how to respond to Musk.
Bloomberg wrote: With Elon’s plan to buy the company, the future of Twitter is in the hands of a rich billionaire who has publicly criticized Twitter’s management for months, questioned its value and changed his mind about buying it.
The proposal also means Musk’s claims — for example, about Twitter lying about the percentage of its users who are bots (the subject of fake accounts on the social network) — likely won’t stand up in court.
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Elon Musk made headlines earlier this year when he agreed to buy Twitter in April in a deal valued at roughly $44 billion.
Shortly after the deal was announced, the billionaire showed signs of regret and withdrew from the deal, claiming that Twitter had misled him about the expansion of its users and the proliferation of automated accounts known as bots.
The CEO of Tesla officially pulled out of the deal to buy Twitter in July, and Twitter sued him in the U.S. Crown Court of Delaware to force him to go ahead with the purchase. The trial was scheduled to begin on October 17. The judge of this court asked both sides to come to him with a proposal on how to proceed with the case.
Following the announcement of Musk’s agreement to continue this transaction, the value of Twitter increased.
According to Pak Sahafat News Agency, Brett Taylor, the chairman of Twitter’s board of directors, wrote earlier and following the announcement of the cancellation of the Twitter purchase deal by Elon Musk on this social network, that the company’s board of directors has filed a lawsuit in Delaware court to “hold Elon Musk accountable for his contractual obligations.”
The court has repeatedly heard commercial disputes between multiple companies, including Twitter.