Elon Musk continues to fluctuate in the price of Twitter shares. After cancellation son online shopping offer social, the billionaire found himself in a legal battle with the latter, who wants to force him to buy the company. While the media trial was supposed to take place in a few days, several American media outlets report that the entrepreneur has changed his mind. According to Bloomberg, on Monday, Elon Musk would have offered Twitter to buy the network. social at the price agreed in April, i.e. 44 billion dollars. Within minutes, the title soared 12% before being suspended from the exchange. CNBC reports that the deal could be completed “as early as Friday or Monday.” Twitter soars in the stock market © Google In a note, Wedbush Securities analyst Dan Ives believes that “this is a sign that Musk admits that his chances of defeating the board of directors in the Delaware court are very slim and that the $44 billion ransom was either way or otherwise it must happen.” AT son comment, he adds, “that being forced to buy a network social After a long and bitter legal battle in Delaware, this was not an ideal scenario, and agreeing to stick to the original agreement would save him a legal headache.”
NEW: Elon Musk proposes buy Twitter for tea original sentence price of $54.20 per year people habitual with case https://t.co/njhknL62wJ peak.twitter.com/fSGSGe8YO7
— Bloomberg TV (@BloombergTV) October 4, 2022
Court looks bad
Last May, Elon Musk stepped up his criticism of Twitter, accusing the platform of censoring users and not doing enough to combat spam and fake accounts. He finally left son proposal, claiming that the proportion of automated accounts on the platform is well over 5%, a figure put forward by the California-based company. Without waiting, the American group entered into a legal battle to force the billionaire to take over the company at the advertised price. Kathleen McCormick, Chief Justice of the Delaware Special Court, provided the network social a quick trial against the will of Elon Musk, who wanted to wait until next year for more accurate data. However, there would be no physical evidence in his argument, and the judge would have defended the network several times. social. Bloomberg claims that the billionaire’s lawyers “feel that the trial is going badly, car Judge Kathleen McCormick has repeatedly sided with Twitter during the preliminary hearings. The turnaround is all the more surprising as many pundits speculated that the Tesla and SpaceX boss would try to renegotiate the deal to acquire the California-based company.
