Tesla CEO Elon Musk wants to move on with his first $44 billion proposal to acquire Twitter, according to securities filings released on Tuesday. By doing so, he wants to put an end to a legal dispute with the social media giant that might have required him to make a payment whether he wanted to or not.
An agreement would hand over control of one of the most powerful media platforms to the richest man on the planet and put an end to months of court battles that hurt Twitter’s reputation and fueled Musk’s reputation for acting erratically.
Elon Musk buys Twitter for $44 billion
Elon Musk will take over a business he agreed to buy in April but quickly changed his mind about. Late on Tuesday, he stated that purchasing Twitter would advance his goal of developing the “everything app” referred to as X.
The updated offer comes before a highly anticipated legal battle between Musk and Twitter in Delaware’s Court of Chancery on October 17, in which the social media company was due to seek an order compelling Musk to conclude the acquisition for $44 billion.
Elon Musk says Twitter purchase will not go ahead
In a statement on Twitter on Monday, Musk stated that, in the event that the Delaware judge halted the proceedings, he wanted to move forward with the agreement under its original terms.
Musk’s decision to give up the fight was not immediately evident, while some speculated that it had something to do with his upcoming deposition. – Agencies
