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Elon Musk is finally buying Twitter

Photo by Solen Feyissa from Pexels

Elon Musk as agreed to pay the original $44 billion to buy Twitter if a lawsuit brought by the company in an attempt to force him to follow through with the deal is closed/.

This is according to a filing with the Securities and Exchange Commission (SEC) uploaded Tuesday. 

And Twitter said, “Twitter issued this statement about today’s news: We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share.”

https://twitter.com/TwitterIR/status/1577380758192197632

Musk had initially, this past April, decided to take twitter private, at $54.20 per share. The Twitter board agreed to the deal and it looked as if it was done.

The super-billionaire decided he was not going to go ahead with the deal over a dispute concerning the number of bots on the platform.

This resulted in Twitter taking Musk to court to force through the deal, via a lawsuit.

The trial was supposed to start in two weeks, but it seems as if Musk now will now have to buy the entity.

News of Musk’s intention to purchase Twitter resulted in the the company’s stock’s trade being suspended on the New York Stock Exchange.

Musk himself has not commented on the deal.

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