Elon Musk flip-flops and again offers to buy Twitter
Elon Musk's Twitter profile is seen on a smartphone atop printed Twitter logos in this photo illustration taken April 28, 2022. REUTERS - DADO RUVIC
Text by: RFI Follow
2 mins
Elon Musk has changed his mind again: the boss of Tesla finally offered Twitter to buy the social network at the price agreed in April, two weeks before the trial scheduled between the two parties on this eventful acquisition.
Advertising
Read more
Twitter confirmed on Tuesday that it had received a letter from Elon Musk, who finally wants to buy the social network at the price agreed in April, 54.20 dollars per share, two weeks before the trial scheduled between the two parties on this eventful acquisition.
“
We have received the letter
(...).
The company's intention is to complete this transaction
” at the defined price, the San Francisco group tweeted after news of the plot twist was revealed by Bloomberg hours before.
The entrepreneur "
intends to conclude the transaction envisaged by the takeover agreement of April 25, 2022
", according to the terms provided, wrote his lawyers in a letter addressed to the Californian group on Monday, and filed Tuesday with the American stock market policeman, the SEC .
The only condition expressed in the letter: the end of the legal proceedings in progress before the specialized court of Delaware.
The title of Twitter took more than 22% on the New York Stock Exchange, after being suspended all afternoon "
pending information
", after an article by the Bloomberg agency which revealed this rebound.
A $44 billion takeover
Elon Musk had offered in the spring to acquire the platform for 54.20 dollars per share, thus valuing it at 44 billion dollars.
The board of directors, at first very reluctant, ended up accepting, but the richest man in the world unilaterally returned to this agreement in July.
Twitter had then launched lawsuits to force him to honor his commitment, and everything indicated that he was well positioned to win.
"
It's a clear sign that Musk recognizes that his chances of winning against the board in the Delaware court are very slim and that the $44 billion buyout was going to have to happen one way or another.
" , reacted the analyst Dan Ives of Wedbush Securities.
Elon Musk had bombarded Twitter with criticism before and after signing the contract,
accusing the platform of censoring users
.
He had justified his backtracking by saying that the proportion of spam and fake accounts on the platform was well over 5%, the figure put forward by the San Francisco company.
(
With
AFP)
Newsletter
Receive all the international news directly in your mailbox
I subscribe
Follow all the international news by downloading the RFI application
Economy
United States
Internet