Twitter Soars After Musk Agrees To Close Acquisition At Original Price

October 4, 2022

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*Image generated using artificial intelligence DALL-E Mini, given the language input "Elon Musk riding a horse"*

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Update: Here is the long-awaited letter (filed as a 13D) from Musk's lawyers at Skadden to Twitter's lawyer at Simpson Thatcher, confirming Musk's willingness to consummate the deal at its original stated terms, with just one potential out: the offer is pending receipt of debt financing proceeds (as well as the trial being adjourned). And so we are right back where we started in April, less some $50 million in legal fees.

Bloomberg is reporting, according to people familiar with the matter, that Elon Musk is proposing to buy Twitter Inc. for the original offer price of $54.20 a share, valuing the company at $44 billion.

The billionaire’s lawyers communicated the proposal to Twitter’s lawyers overnight Monday and filed a letter confidentially with the Delaware Chancery Court ahead of an emergency hearing on the matter scheduled for Tuesday, the person said...

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