Elon Musk has offered Twitter to resume the acquisition of the company at a price of $54.2 per share, Bloomberg reports , citing sources who read Musk's letter to the company's management.
Quotes Twitter on the background of these news began to grow.
On July 9, it became known that Musk pulled out of the deal to buy Twitter. In a letter from his representative to the company, it was reported that the reason for this was "a material violation of several provisions of the agreement." In particular, Musk's lawyers pointed out that Twitter was unable or refused to provide information about the platform's fake accounts.
Musk also said he was pulling back on the purchase because Twitter fired top executives and one-third of its talent scouts. According to the lawyer of the billionaire, by doing so, the social network violated the obligation to “keep the material components of its current business organization practically intact.”
The fact that Musk is going to buy Twitter became known in mid-April. The businessman was going to buy shares of the company at a price of $54.2 a share – 54% more expensive than they were worth on the day he started investing, and 38% more expensive than on April 1, three days before his investment was known other.
At the end of May, Twitter shareholders filed a class action lawsuit against Musk and the company in a Northern California court, as the businessman, in their opinion, violated the law. He deliberately concealed his plans for the deal, and then made claims about fake social media accounts in order to reduce the price by at least $11 billion. In late July, Elon Musk filed a counterclaim against Twitter.