Elon Musk Changes Tune, Offers to Proceed with Deal to Buy Twitter

Tesla CEO Elon Musk has suddenly changed his tune and offered to complete his deal to buy Twitter, according to reports.

Musk says he will complete his takeover of Twitter Inc (TWTR.N) at the agreed price of $54.20 per share, a Bloomberg news report revealed today.

Twitter shares were up 12.7% on the news before trading was halted.

Twitter and Musk’s lawyers have been locked in a lawsuit battle after the billionaire pulled out of the deal earlier this year.

The two sides are due to begin court proceedings this month.

Twitter is trying to force a Delaware judge to order Musk to close the deal at $54.20 per share.

Musk agreed in April to buy Twitter for $44 billion, but within weeks said the number of bot accounts was much higher than Twitter’s estimate of less than 5% of users.

According to CNBC:

A few weeks after Musk agreed to the deal earlier this year, valuing Twitter at $44 billion, he quickly changed course and tried to back out of the agreement.

Twitter sued Musk to force him to go through with the purchase. The two sides were scheduled to go to court on Oct. 17.

According to Bloomberg, which cited people with knowledge of the matter, Musk made his latest proposal in a letter to Twitter.

CNBC has independently confirmed Musk’s renewed offer.

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Meanwhile, Musk also shut down a critic on Twitter who accused the Tesla CEO of being pro-Russia.

Garry Kasparov ripped Musk for proposing peace in Ukraine.

“This is moral idiocy, repetition of Kremlin propaganda, a betrayal of Ukrainian courage & sacrifice, and puts a few minutes browsing Crimea on Wikipedia over the current horrific reality of Putin’s bloody war,” Kasparov said.

“Who are you to reward years of Putin’s war crimes with Ukrainian blood and land?

“To declare done what evil crimes must be undone?

“It is not too late to delete this and say you were high. Please do.

“Rebutting the known fallacies: 1) Ukraine was neutral in 2014 and Russia attacked & occupied it, invading again this year. Never again.

“2) The greatest nuclear threat comes from concessions to Putin, not standing up to him.

“3) The only real peace will be when Russia is defeated.

“4) Legitimizing the change of national borders by force is the way of dictators, not the free world.

“5) Ukrainian people and territory are not baubles to be traded or sold by third parties, let alone to a dictatorship committed to their ethnic cleansing and slaughter.”

Musk fired back with:

“We gave Starlinks to Ukraine & lost $80M+ in doing so, while putting SpaceX & myself at serious risk of Russian cyberattack.

“What have you done besides tweet?”

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By David Hawkins

David Hawkins is a writer who specializes in political commentary and world affairs. He's been writing professionally since 2014.

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