China News Agency, San Francisco, October 4th. According to a document received by the US Securities and Exchange Commission on the 4th local time, Tesla CEO Elon Musk said in a letter to Twitter on the 3rd. , plans to acquire Twitter at the original price of the previous agreement.
Musk’s lawyers wrote in the letter that Musk’s party intends to proceed with the acquisition of Twitter under the terms of the April 25 agreement, provided that the Delaware Chancery Court stops Twitter’s proceedings against Musk.
The Associated Press reported that Twitter said it had received a letter from Musk and that the company intends to close the deal at $54.20 per share.
However, Twitter has not said it will drop its lawsuit against Musk.
Twitter announced on April 25 this year that the company had agreed to Musk’s acquisition agreement.
The latter will buy Twitter for $54.2 per share, or about $44 billion in total.
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.
Twitter took Musk to court on July 12, accusing him of refusing to complete the acquisition as agreed, causing Twitter to suffer serious losses.
The Delaware Chancery Court was scheduled to begin hearing the case on October 17 this year.
Legal experts say Musk faces enormous challenges in the case.
On the 4th, as of the close of U.S. stocks, Twitter’s stock price rose 22.24% to $52.
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