After months of controversy, Elon Musk will own Twitter: the company will accept the new offer

Elon Musk arrives at the Met Gala with the theme United States: An Anthology of Fashion, at the Metropolitan Museum of Art in New York City (REUTERS / Brendan Mcdermid)
Elon Musk arrives at the Met Gala with the theme United States: An Anthology of Fashion, at the Metropolitan Museum of Art in New York City (REUTERS / Brendan Mcdermid)

Twitter on Tuesday showed its willingness for Telsa CEO Elon Musk to acquire the social network for 44,000 million dollars, as previously agreed.

“The company’s intention is to close the transaction by $54.20 a share”, Twitter wrote in reaction to a Musk proposal that was sent hours earlier to the company and the US Securities Market Commission (SEQin English).

It noted that the tycoon “intends to proceed to the closing of the transaction contemplated in the merger agreement of April 25, 2022, in the terms and subject to the conditions established therein.”

Twitter and Musk had agreed to acquire the company for that price, but later the billionaire backtracked to the transaction, arguing that it had found a substantial breach of several provisions of the agreement, including the number of false accounts recorded by the company.

In recent weeks, the owner of Tesla and SpaceX had also reproached Twitter for compensation without his consent to Peiter Zatko -former head of security-. Zatko had denounced that the social network hid relevant information from regulators about its deficiencies in cyber defense and the number of false accounts.

This latest offer by Musk comes two weeks after the trial began in Delaware for the lawsuit made by Twitter that sought to force the tycoon to proceed with the purchase. In this instance, which was dated October 17, Musk hoped that the judge would exempt him from formalizing the acquisition to which he had committed.

Shares of the social network rose 22.24% this Tuesday to reach a value of 52.00 dollars. Along the same lines, Tesla shares closed at $249.44, which means a rise of 2.90% for the end of the Wall Street session.

Likewise, the New York stock market also saw a strong rise with indices such as the Nasdaq that gained 3.34% on the day.

In July of this year, Twitter shares had low peaks that took the price to 32.7 dollars.

(With information from EFE)

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