Twitter confirmed on Tuesday that it had received a letter from Elon Musk, who finally wants to buy the social network at the price agreed in April – US$54.20 per share – two weeks before the trial scheduled between the two parties on this eventful acquisition.
“We have received the letter. […] The company’s intention is to complete this transaction “at the defined price, tweeted the group from San Francisco after news of the plot twist was revealed by Bloomberg hours before.
The two parties had signed a contract at the end of April, but Elon Musk unilaterally reneged on this agreement in July. The group with the blue bird then launched a lawsuit to force him to honor his commitment, and everything indicated that he was well positioned to win. “This is a clear sign that Musk recognizes that his chances of winning against the board in a Delaware court are very slim and that the $44 billion buyout was going to have to happen somehow. said analyst Dan Ives of Wedbush Securities.
The trial was supposed to be held from October 17 to 21, but it will not take place if Twitter accepts this new offer.
If the transaction goes through, the risk of regulators blocking it is low, according to the analyst. But the resurgent idea of the Tesla and SpaceX boss taking ownership of Twitter “is going to cause a storm of concern and questions from users and politicians,” he added.
The April agreement had indeed been greeted with a lot of emotions, from the anxieties of the left to the joy of the right at the prospect that Elon Musk would relax the regulations and the moderation of content. “The platform will become an engine of radicalization if it delivers even a fraction of what it promised,” Angelo Carusone, president of the NGO Media Matters for America, said in a statement Tuesday.
To see in video