Elon Musk Offers To Close Twitter Buyout Deal At Original Price
Written by City Radio on October 5, 2022
Elon Musk on Tuesday offered to push through with his buyout of Twitter at the original agreed price, as a trial over his efforts to withdraw from the deal loomed.
The world’s richest man said in a filing with the Securities and Exchange Commission that he sent Twitter a letter vowing to honor the contract.
The latest twist in the long-running saga came ahead of the high-stakes court battle launched by Twitter in an attempt to hold the Tesla chief to the deal he signed in April.
Musk’s potential stewardship of the influential social media site has sparked worry from activists who fear he could open the gates to more abusive and misinformative posts.
Conditions noted in Musk’s letter included that the court halt action in the lawsuit against him. He had been slated to be questioned under oath by Twitter attorneys later this week.
The 51-year-old tweeted that buying Twitter “is an accelerant to creating X, the everything app,” offering no details.
During an annual shareholders meeting in August, Musk said Twitter could add momentum to a vision he had for the X.com company he founded in 1999.