Elon Musk Moving Forward With Buying Twitter

Jesse Williams

By Jesse Williams

Jesse Williams

5 Oct 2022

Elon Musk’s plans to buy social media platform Twitter are reportedly back on.

His proposal to purchase Twitter for $54.20 per share, a total value of $44bn (£38.4bn), is now in motion again following months of legal battles.

Musk made the proposal in a letter to Twitter on Monday, according to a filing with the Securities and Exchange Commission and Twitter said it received the letter and intends to close the deal at the agreed-upon price.

Before the news broke Musk had spent months publicly criticising Twitters management and questioning its value.

His biggest accusation alleged Twitter had misled him about the size of its user base and the prevalence of automated accounts known as bots.

The u-turn comes just two weeks before Twitter’s lawsuit seeking to force Musk to go through with the deal goes to trial in Delaware Chancery Court.