Twitter Accepts Musk’s $44 Billion Offer After Endless Saga (2 min read)
Elon Musk has agreed to purchase Twitter at the price of $54.20 per share. Twitter’s stock rose more than 12% right after the news until the trading was halted. As of the market closed, shares of Twitter were up more than 22%. Both parties were scheduled for court this week because Elon backed out on the buyout deal over Twitter misstating the number of bot accounts. After agreeing to the deal again, Elon had asked the court to immediately pause litigation. This could be a sign that Elon realized his chance of winning in court is slim, or the new proposal is part of a legal tactic.