Two people familiar with the process had previously reported to the Reuters news agency on Tuesday about the billionaire’s proposal, which included the original price of $54.20 per share.
The Bloomberg news agency had also previously reported that Musk had submitted the proposal in a letter to Twitter. There was no comment from Musk or Twitter. The report initially sent Twitter shares up nearly 13 percent to $47.93 before the paper was suspended from trading.
Musk announced in April that he wanted to acquire Twitter for $44 billion. In July, referring to alleged false statements by Twitter about the number of bogus accounts on the platform, he then declared that he would not complete the purchase. Musk and Twitter have sued each other. The Delaware state court trial was scheduled to begin on October 17. In an initial assessment, Wedbush analyst Dave Ives said Musk appears to have realized he has little chance of winning in court and that the deal “will go through one way or the other.”
Source: Nachrichten
