Elon Musk Proposes to Follow Through With Twitter Acquisition
Billionaire Elon Musk has once again reversed course in the ongoing Twitter acquisition saga, today sending a letter to Twitter proposing a purchase at the original price, reports Bloomberg.
Musk originally offered to buy Twitter for $44 billion in April ($54.20 per share), a deal that Twitter ultimately accepted. Musk in May put the takeover "temporarily on hold" because of a dispute over the number of fake or spam accounts that Twitter claimed to have. Twitter said that fake accounts represented less than five percent of users, but Musk was not convinced.
In July, Musk decided he no longer wanted to buy Twitter and attempted to call off the purchase, claiming that Twitter did not comply with its contractual obligations and that he was not provided with the relevant business information that he requested.
Twitter in turn filed a lawsuit to force Musk to go on with the sale, accusing him of trashing the company, disrupting its operations, and destroying stockholder value. Musk's decision to offer to continue on with the purchase comes ahead of a trial that was set to begin on October 17. With Musk once again on board, it is probable that the acquisition will go through, provided he does not change his mind again.
Popular Stories
Elon Musk's companies X Corp and SpaceXAI today asked the court to dismiss their claims in a lawsuit filed against Apple in 2025, reports Reuters. There was no explanation for the dismissal request or mention of a settlement. The filing also does not ask for the dismissal of claims against OpenAI.
Plaintiffs have resolved their claims in this Action against Defendant Apple Inc. ("Apple")....
Apple's long-rumored smart home hub will have an iMac G4-style design and a host of unique features, Bloomberg's Mark Gurman reports.
The smart home hub is said to feature a square 6-inch display, with variants that can be placed on a countertop or mounted on a wall. It features a single FaceTime camera on the front, with microphones and speakers in its connected base. Gurman described the...
Apple plans to introduce a series of new smart home products on Tuesday, October 13, according to Bloomberg's Mark Gurman.
Apple reportedly plans to debut its long-awaited smart home hub device, a new HomePod mini, and a new Apple TV on the date. The new HomePod mini and Apple TV are set to retain their existing designs, but tout faster chips to support Siri AI. The new HomePod mini will...
