Elon Musk Says He's Willing To Buy Twitter At His Original Price
Monday, the billionaire CEO of Tesla's legal team sent a letter to Twitter. This could end the legal battle over the merger that he tried to abandon in July.
Musk made an unsolicited offer in April to buy Twitter for $54.20 per share, which is about $44 billion.
Early in July, he said he was ending the deal because he was worried about the number of Twitter users a
nd Twitter had deceived him.
Twitter went to court to make Musk keep the deal. Less than two weeks from now, a trial is set to start.
Twitter said that Musk had buyer's remorse because the stock market crash since the deal was signed made the price Musk agreed to pay look high and made his Tesla stake worth less.
Now, it's up to the company to decide whether to accept Musk's new offer or force the billionaire to go to court to close the deal.
Musk's lawyers make it clear in the letter that the offer is only good if Twitter drops its lawsuit.
They said, "We got the letter from the Musk parties, which they filed with the SEC. The Company wants to close the deal at $54.20 per share."
This week, Musk is going to give a deposition. On Oct. 17, a trial that will last five days will start.