In a rather interesting u-turn, Elon Musk has changed his mind once again about buying the Twitter platform! According to the reports, Elon Musk has shown his willingness to buy the social media platform.
Elon Musk has sent a letter to Twitter in which he agreed to pay the price originally mentioned in the deal. Before this latest development, the two parties were fighting a lengthy legal battle in court.
In the case between the two companies, many believed that Twitter had a better chance of winning the case. But now that both parties are coming close to an agreement, there is a good chance that the legal battle will end as it is!
Elon Musk Is Ready To Complete The Transaction
In the letter, the attorneys of Elon Musk clearly stated that the billionaire wanted to complete the transaction. If this happens, it will put an end to the lengthy legal fight between the two parties.
When Twitter was approached for comments, they acknowledged that they had indeed received the proposal. They also stated that it was Twitter's intention to complete the deal at the original agreed price of $54.20/share. This was the price upon which Elon Musk had based his original Twitter deal.
After the letter was made public, the stock of Twitter went higher and added 20% to its value. At the time of writing this article, the price of one Twitter share is around $52 (around $2 lower than the deal price).
However, investors still have doubts about the deal going through and actually realizing... After all, Elon Musk has already backed away from the deal once!
Earlier, Elon Musk had backed away from a multi-billion dollar deal to buy Twitter, citing fake accounts. Now that he has agreed to buy Twitter, he expressed the desire to make it a part of the everything app. Mr. Elon Musk is also a strong contender for free speech and could promote that on Twitter as well!