Elon Musk creates the "X" app and goes ahead with the purchase of Twitter
Documents showed that billionaire Elon Musk is proposing to go ahead with his original $44 billion acquisition of Twitter, calling for an end to a lawsuit brought by the social media company that could force him to pay whether he wanted to or not, according to Reuters news agency. .
The agreement would put the world's richest person at the helm of one of the most influential media platforms and end months of ongoing litigation that has damaged the Twitter brand and fueled Musk's strange and unexpected actions and decisions.
Musk, CEO of electric car maker Tesla, will take over the company he had originally committed to buying in April, but quickly reversed his decision.
However, he wrote on Twitter late yesterday (Tuesday) that the purchase of the social media giant will accelerate his ambition to create an "app for everything" called "X".
The new offer comes ahead of a highly anticipated showdown between Musk and Twitter in a Delaware court on October 17, in which the social media company is seeking an order for Musk to complete the deal for $44 billion.
Musk sent a message on Twitter on Monday saying he intended to proceed with the deal on the original terms if a Delaware judge stops the proceedings.
A source familiar with the Twitter team told Reuters that at a court session on Tuesday morning, the judge requested a report from both sides in the evening.
It is not yet clear why Musk has chosen to abandon his fight, although some have attributed this to the approach of facing questions from the company's lawyers.
"He was about to face questions (from the Twitter lawyer) and he was going to come out with a lot of uncomfortable facts," said Eric Talley, a professor at Columbia Law School.
A Twitter spokesperson told Reuters that the company had received Musk's message and that he intended to complete the deal at the original price.
Twitter did not say whether it would accept Musk's offer.
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