While Elon Musk made headlines earlier this year when reached a deal to purchase the social media platform, the billionaire then received additional attention when he later attempted to back out of the agreement.
However, Musk got back in the spotlight again this week after announcing that his purchase is back on.
Musk agrees to $54.20 share price
According to the Daily Wire, an attorney working for the Tesla and SpaceX CEO sent a letter to Twitter executives offering to buy the company for $54.20 per share as had been originally agreed. It read,
On behalf of X Holdings I, Inc., X Holdings II, Inc. and Elon R. Musk (the “Musk Parties”), we write to notify you that the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement, on the terms and subject to the conditions set forth therein and pending receipt of the proceeds of the debt financing contemplated thereby, provided that the Delaware Chancery Court enter an immediate stay of the action, Twitter vs. Musk, et al. (C.A. No. 202-0613-KSJM) (the “Action”) and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court.
Musk has up until now been the defendant in a lawsuit Twitter filed as part of an effort aimed at forcing him to make good on his purchase offer.
The Daily Wire reported that for its part, Twitter put out a statement in which the company signaled its intention to accept Musk’s offer.
“We received the letter from the Musk parties which they have filed with the SEC,” Twitter’s statement announced. “The intention of the Company is to close the transaction at $54.20 per share.”
Left-wing journalist fears Twitter deal “could actually affect midterms”
Musk is known as a free speech proponent with little use for woke culture, and Fox News noted that the prospect of him running Twitter is causing anxiety among some members of the media.
One of them is NBC News reporter Ben Collins, who composed a series of tweets in which he warned that Musk could impact the results of this year’s midterm elections.
“For those of you asking: Yes, I do think this site can and will change pretty dramatically if Musk gets full control over it,” he said on Tuesday.
“No, there is no immediate replacement,” added the NBC correspondent, whose reporting focuses on “disinformation” and “extremism.”
“If it gets done early enough, based on the people he’s aligned with, yes, it could actually affect midterms,” Collins concluded.