Elon Musk Is Officially Buying Twitter

It was originally agreed that Tesla Chief Elon Musk would take over Twitter for $54.20 a share in April. A few months later, in July, he backed out of the deal citing concerns that the company had misled regulators and investors about how many fake accounts it was generating.

However, twitter isn't happy with Tesla's chief, and in turn sued him to complete the deal, arguing that Musk's withdrawal was motivated by his desire to protect his financial interests during a downturn in tech stocks.

But, Tesla's CEO has now contacted Twitter and offered to proceed with the same deal less than two weeks before the Delaware Chancery Court trial is due to begin.

Twitter's spokesperson told IGN, "We received the letter frm the Musk parties, which they filed with the SEC. The Company intends to close the transaction at $54.20 per share."

According to a person close to Twitter, the company worries Musk might be offering to proceed with the deal just to get the trial postponed.

This person reported that Twitter is seeking broader legal protections from the court, such as guarantees on timing and certainty of closure.

Elon Musk will buy Twitter for $44billion  if everything goes well.

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