It looks like Elon Musk might end up buying social media platform Twitter after all. Earlier in 2022, Musk agreed to a deal that would see him purchasing Twitter for at a price in the range of $45 billion. Not long after this deal came about, though, Musk seemed to get cold feed and tried to back out from the contract. While Twitter and Musk have since been at odds with one another over the past few months, it sounds like the tech mogul is now going to look to purchase as he originally intended.
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According to a new report from Bloomberg, Musk today made a proposal to those at Twitter to buy the company for his original offer which valued the company at $54.20 per share. Previously, Musk seemed to have waned on this value due to claims that a sizable percentage of Twitter’s users were bots. Twitter itself pushed back on this notion, which led Musk to look to scrap the contract to buy the social media site. For one reason or another, though, Musk seems to have had a change of heart and is now looking to snatch up Twitter after all.
While it remains to be seen how Twitter ends up responding to this new proposal, this move from Musk might prove to bring about an end to this ongoing storyline. Musk and Twitter were both set to appear in court later this month after the tech company sued Musk for trying to back out of the deal. Assuming that this purchase now goes through as previously planned, though, that lawsuit would quickly get canned.
It’s also worth noting that Twitter’s stock shot up today in the wake of this report coming about. While Twitter was trading at around $43 at the start of the day, stock prices immediately went up to nearly $48 before trading was eventually halted. Clearly, investors are very much wanting Musk to buy the company, especially if it’s done at the $54.20 value that was previously agreed to.
Are you happy to hear that Musk might end up purchasing Twitter? And what are your thoughts overall on this entire saga? Be sure to let me know either down in the comments or reach out to me on social media at @MooreMan12.
