Elon Musk has submitted a fresh offer to acquire Twitter
Twitter’s board members had already voted in Favour of approving the agreement prior to the company’s pursuit of legal action on the topic, with a court hearing set for October 17th.
According to information obtained from an anonymous source for a story by Bloomberg, the billionaire Elon Musk has revived his attempt to acquire the social media site Twitter for a price of $54.20 per share.
In the most recent development in the drama surrounding who owns Twitter, Elon Musk gave the impression of having a third change of heart since he first made a bid to buy the firm in April of 2022. CNBC was able to independently verify the rumours that Musk had a change of heart.
Notably, the shareholders of Twitter had previously approved the offer to buy out the social media company for $44 billion back in September, despite the fact that a legal attempt was being made to enforce the contract. According to a report by Bloomberg, Elon Musk, who had earlier shown interest in withdrawing from the transaction, seemed to have a change of heart and issued a proposal to Twitter.
Following the announcement that Musk will re-enter the bidding process, the price of a share of Twitter rose to around $49.00.