Twitter on Wednesday said it has received a letter from Elon Musk to go ahead with their original deal of $54.20 per share (or $44 billion)
Twitter shares went up 22 per cent after the news
In a new filing with the US Securities and Exchange Commission (SEC), Musk’s legal team has also asked the court to adjourn the trial and all other proceedings
We received the letter from the Musk parties which they have filed with the SEC (Securities and Exchange Commission), said Twitter
The intention of the Company is to close the transaction at $54.20 per share
“Buying Twitter is an accelerant to creating X, the everything app. Twitter probably accelerates X by 3 to 5 years, but I could be wrong,” Musk tweeted
The surprising development led to the micro-blogging platform’s share jump 22 per cent after it reopened as trading of Twitter shares was briefly halted
Twitter shareholders had earlier voted to approve Musk’s $44 billion takeover bid