After months of back and forth with the leftist social media giant, billionaire tech mogul Elon Musk revived his original Twitter offer of $44 billion – or $54.20 per share. The news rocked the stock market, sending Twitter shares into double-digit gains and sets the stage for a final negotiation and handoff.
Newsmax wrote:
Billionaire Elon Musk is proposing to go ahead with his original offer of $54.20 to take Twitter Inc private, Bloomberg News reported on Tuesday, sending the shares of the social media firm surging.
Twitter shares jumped 12.7% at $47.93 before trading was halted for the second time, while Tesla Inc., the electric vehicle company that Musk heads, fell about 3%.
Musk made the proposal in a letter to Twitter, Bloomberg reported, citing people who asked not to be identified discussing confidential information.
After his initial offer was made public last April, speculation surrounded the use of spam and bot accounts. Musk initially said he would not buy the company if Twitter’s accounting of fewer than 5% of accounts being bots was inaccurate. Some people pinned the number of bot (i.e. fake accounts) as high as 20-25%.
Newsmax continued:
The news comes ahead of a highly anticipated faceoff between Musk and Twitter at Delaware’s Court of Chancery on Oct. 17, in which the social media company was set to seek an order directing Musk to close the deal at $54.20 per share.
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Musk’s return to the table comes just weeks before he was set to appear in court with Twitter concerning the original offer and subsequent withdrawal. In April, Musk had originally offered $44 billion for the entire company, but in July seemingly walked away after expressing concern for the higher-than-publicized number of bot accounts. Twitter’s shareholders had agreed to the sale, despite internal company lefties constantly fretting over his position of supporting free speech.
Notably, many banned accounts returned to the platform after Musk’s initial offer and countless users have since been posting comments that would previously have gotten them kicked off as well. With the deal one step closer to being complete, there is optimism that the 21st century’s public square will allow discourse of all kinds.
And then, there is still massive speculation about if and when former president Donald Trump will return to the platform.
Hailey writes at The Blue State Conservative.
