Elon Musk is now willing to purchase Twitter after all, mere weeks before his legal trial starts, despite prior attempts to axe the deal.
Elon Musk has reportedly changed his mind, yet again, about the Twitter acquisition deal he’s been trying to ditch since early July. As indicated in a letter sent to Twitter on Monday by Musk’s legal team, the Tesla CEO and SpaceX founder wishes to go ahead with the original acquisition plan, agreed upon back in April, at the price of $54.20 per share ($44 billion in total).
His initial reasons for trying to exit the deal surrounded Twitter’s allegedly plummeting value, as well as claims the social media giant was “in breach of multiple provisions” outlined in the agreement. Twitter rejected the validity of this accusation and attempted to enforce Musk to abide by the initial agreement via a lawsuit.
Now, after much heated back and forth, Musk is seemingly trying to retract the steps he’s taken thus far to terminate the agreement, and is willing to move forward with the acquisition, but only on one condition – Twitter must drop its lawsuit against him.
As reported by NPR, a spokesperson for Twitter stated the following regarding this recent turn of events: “We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share.” According to NPR, an individual close to these discussions has revealed that both parties “are discussing how to drop the litigation, while guaranteeing that the deal will be completed.”