Elon Musk offered Twitter on Monday to buy the social network at the price agreed in April, according to press reports, two weeks before the trial between the two parties on this eventful acquisition.
The listing of the Twitter action was suspended Tuesday at the New York Stock Exchange “pending information” after a Bloomberg article which revealed this new takeover offer from the boss of Tesla.
The quotation had been suspended for the first time for 5 minutes, and the title had soared to +18%, before being stopped again, at +12.7%.
$54.20 a share, Twitter okay
According to the economic news agency, Elon Musk sent a letter to Twitter on Monday, offering to acquire the platform for $54.20 a share, the price he originally offered to the company. spring and that the board of directors had finally accepted.
According to CNBC, the deal could be finalized as early as Friday or Monday.
For its part, Twitter confirmed having received a letter from Elon Musk, who finally wants to buy the social network.
“The intention of the company is to complete this transaction” at the defined price, the San Francisco group tweeted after news of the plot twist was revealed by Bloomberg hours before.
“Low chance of winning”
The two parties had signed a contract at the end of April, but Elon Musk unilaterally reneged on this agreement in July.
The group at the blue bird had then launched lawsuits to force him to honor his commitment, and everything indicated that he was well positioned to win.
“It’s 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 one way or another.” , reacted the analyst Dan Ives of Wedbush Securities.
Criticisms of Twitter
Elon Musk had bombarded Twitter with criticism before and after the takeover deal was signed, accusing the platform of censoring users and failing to sufficiently crack down on spam and fake accounts.
He justified his backtracking by saying that the proportion of automated accounts on the platform was well above the 5% figure put forward by the San Francisco company.
Faced with Twitter’s complaint, the president of the Delaware specialized court granted the company a quick trial, while Elon Musk wanted to wait until next year and was asking for astronomical amounts of data.
The trial, if maintained, should theoretically take place from October 17 to 21.