Elon Musk reportedly stood back on his original offer to buy Twitter for around $54.20 per share. Valuing the deal at around $45 Billion. Musk made this offer originally on April 14 and just after 11 days, Twitter accepted the deal, but then on July 8th, Musk backed out of the deal stating Twitter failed to provide him with enough data on the bots and total spam accounts on Twitter.
Twitter sued Musk and then took him a trial to court and just yesterday, Musk proposed the same offer once again. A lot of experts believe this sudden change of mind by Elon happened because he had no other option and he would have lost the case if he kept on fighting against Twitter.
Shares of Twitter closed up at $52.00 (22.24% increase)
Shares of Tesla closed up at $249.44 (2.90% increase)
Everyone awaits more news on this offer, what Elon Musk decides to do further, and when there will be any further development on this situation.
One response to “The Twitter-Musk Saga”
The deal should move forward imo