Elon Musk proposes renegotiating the Twitter deal
Elon Musk has promised to finish his acquisition of Twitter Inc. on the terms he originally agreed to, ending a months-long campaign to get out of the $44 billion deal.
A lawyer for Mr. Musk told Twitter's lawyers about the idea Monday, according to an SEC filing Tuesday afternoon.
Twitter says it received the letter & will close the deal at $54.20 per share.
Should the parties agree, they might avoid a high-stakes trial & finalize the agreement in days.
It would be a win for Facebook. Mr. Musk's idea may not be followed through on. The Oct. 17 trial might still start as scheduled.
Mr. Musk's deposition is slated for later this week. Musk tweeted Tuesday, "Buying Twitter accelerates producing X, the everything app."
He's said he'd launch X.com if the Twitter acquisition fell through. Musk claimed Tuesday that buying Twitter might save three to five years.
For More Stories