It looks like Elon Musk might end up buying the social media platform Twitter after all. Earlier in 2022, Musk agreed to a deal that would see him buy Twitter for around $45 billion. It wasn’t long before this deal was struck, though, that Musk seemed to have gotten a cold feed and tried to undo the contract. While Twitter and Musk have since been at loggerheads with each other over the past few months, it appears that the tech mogul will now be looking to buy as much as he originally intended.
According to a new report from BloombergToday, Musk submitted a proposal to those on Twitter to buy the company for his original bid that valued the company at $54.20 per share. Previously, Musk appeared to have diminished in this value due to claims that a large percentage of Twitter users were bots. Twitter itself rejected that idea, leading Musk to look to cancel the contract to buy the social media site. For one reason or another, though, Musk appears to have changed his stance and is now looking to grab Twitter after all.
While it remains to be seen how Twitter ends up responding to this new proposal, this move by Musk may prove to put an end to this ongoing story. Both Musk and Twitter were due to appear in court later this month after the tech company sued Musk for trying to back out of the deal. Assuming that this purchase now proceeds as planned, this lawsuit will proceed quickly.
It’s also worth noting that Twitter’s stock is up today in the wake of this report. While Twitter was trading at around $43 at the start of the day, stock prices immediately rose to nearly $48 before trading finally came to a halt. Investors clearly want Musk to buy the company, especially if it does so at the previously agreed $54.20 value.
Happy to hear that Musk might end up buying Twitter? What are your thoughts in general about this whole story? Make sure to tell me either in the comments or connect with me on social media at Trustworthy.
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