Elon Musk again offered to buy Twitter

Elon Musk again offered to buy TwitterShares of Twitter jumped 12.7% to $47.93 before halting trading for the second time, while Tesla Inc., the flagship electric vehicle company under Musk, gained 1.5%

Billionaire Elon Musk proposes to go ahead with Twitter for $54.20 per share. Two sources familiar with the matter said on Tuesday that this has led to a jump in the shares of the social media firm. Shares of Twitter jumped 12.7% to $47.93 before halting trading for the second time, while Tesla Inc., the flagship electric vehicle company under Musk, gained 1.5%.

According to the news agency Reuters, Bloomberg reported the move, saying that Musk has proposed in a letter to Twitter. It cited people who asked not to be identified while discussing confidential information. On Twitter, and Musk’s lawyers were not available to request confirmation from Reuters.

Twitter confirmed to AFP news agency that it had received the letter from Musk. 

The news comes ahead of a much-anticipated face-off between Musk and Twitter at the Court of Chancery in Delaware on October 17, in which the social media company is set to instruct Musk to close the deal at $54.20 per share. Was.

Wedbush analyst Dan Ives wrote in a note, “This is a clear indication that Musk has identified going to Delaware court. Was gonna.”

Musk agreed to buy Twitter for $44 billion in April, but within weeks said the number of bot accounts was much higher than what Twitter had estimated at less than 5% of users.

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