Elon Musk will finally buy Twitter at the agreed price in April

Elon Musk eventually plans to buy Twitter. The boss of Tesla finally proposed to the social network to proceed with its acquisition at the price agreed in April, two weeks before the trial between the two parties on this acquisition rich in twists and turns.

The contractor « intends to complete the transaction envisaged by the repurchase agreement of April 25, 2022 “, according to the terms provided, wrote his lawyers in a letter addressed to the Californian group on Monday, and filed Tuesday, October 4 with the American stock market policeman, the SEC.

Read also: Will Elon Musk pluck the blue bird?

The only condition indicated in the letter: the end of the legal proceedings in progress before the specialized court of Delaware. Elon Musk had announced in the spring a proposal to buy the platform for 54.20 dollars per share, valuing it at 44 billion dollars. The board of directors, initially very reluctant, had finally accepted, but the billionaire had reconsidered this agreement in July. His lawyers had justified his decision to cancel the purchase agreement in particular by Twitter’s refusal to provide all the information requested on the number of fake accounts, a figure that Elon Musk estimated between 20% and 50%, or several million subscribers.

Read also: Elon Musk will be able to conduct his own analysis of fake Twitter accounts

Twitter then launched legal proceedings.

On Tuesday, the band confirmed in a brief statement, ” to have received the letter and have the intention “to conclude this transaction” at the set price. Twitter’s title took more than 22% on the New York Stock Exchange, after being suspended all afternoon. waiting for information “, after an article by the American press agency Bloomberg which revealed this twist.

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