China News Service, October 5 (Reuters) - Tesla CEO Elon Musk has proposed continuing to buy Twitter for the $44 billion he originally offered, according to a recent filing.
Data map: Musk.
If a deal is reached, Musk will take the helm of Twitter and end months of lawsuits that have damaged Twitter's brand and fueled Musk's reputation for being volatile, the report said.
With Twitter reportedly already receiving shareholder support for its sale to Musk, the deal could close quickly in the coming weeks if the two sides reach an agreement on initial terms.
On April 25, Musk reached a definitive agreement with Twitter’s board to buy it for $54.2 a share, a deal valued at about $44 billion.
On July 8, Musk’s lawyers said in a letter to Twitter’s chief legal officer that Musk would terminate the company’s acquisition because Twitter violated various terms of the acquisition agreement.
On July 12, Twitter formally filed a lawsuit against Musk to buy the social media company for $44 billion.
On July 29, Musk’s legal team filed a private counterclaim against Twitter.
Musk said in court filings that he was tricked into signing an agreement to buy Twitter.
Twitter denies the claim.