Twitter shares jumped 12.7 percent at $47.93 on Tuesday before trading was halted for the second time.
Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc, listens during a discussion at the Satellite 2020 Conference in Washington, DC, US.
Twitter and Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc, were set to enter the courtroom this month, with Twitter seeking an order directing Musk to close the deal at $54.20 per share [File: Andrew Harrer/Bloomberg]
Published On 4 Oct 2022 4 Oct 2022.
Billionaire Elon Musk is proposing to go ahead with his original offer of $44bn to take Twitter Inc private, a securities filing showed on Tuesday, signalling an end to a legal battle that could have forced Musk to pay up.
An agreement would put the world’s richest person in charge of one of the most influential media platforms and end months of turbulent litigation that damaged Twitter’s brand and fed Musk’s reputation for erratic behaviour.
Musk, the chief executive of electric car maker Tesla Inc, will take over a company he originally committed to buying in April, but soon soured on.