With deposition and trial looming, Elon Musk has offered $44B for Twitter, again

Elon Musk has proposed as soon as once more to purchase Twitter for $54.20 a share.

The information that Musk is providing to hold on with the $44 billion buyout was first reported by Bloomberg. Now, a submitting with the Securities and Alternate Fee reveals Musk made the proposal in a letter to the tech big on Monday.

The New York Inventory Alternate briefly halted buying and selling in Twitter inventory twice Tuesday, first due to a giant value transfer and the second time for a information occasion, presumably the announcement of Musk’s renewed provide.

Whereas the per share provide value on this newest proposal stays the identical as the unique provide, it’s unclear if Musk has made different time period modifications or if Twitter would reject it. In keeping with different stories, a deal could possibly be reached this week.

The inventory closed at $52.00/share Tuesday, indicating market uncertainty across the $54.20 provide.

After Musk knowledgeable Twitter of plans to terminate the unique settlement in July, Twitter sued. A trial has been anticipated in Delaware Chancery Court docket on Oct. 17.

With the proposition of a buyout on the desk once more, it revives the query of whether or not Musk may transfer Twitter from San Francisco to Central Texas.

He’s finished so with a few of his different corporations. Tesla’s headquarters in southeast Travis County had its grand opening earlier this yr and tunneling enterprise The Boring Firm moved to Pflugerville. A minimum of two different Musk corporations, SpaceX and Neuralink, have a Central Texas presence with out being headquartered right here.

Expertise journalist Nilay Patel this afternoon voiced issues that proudly owning Twitter and Tesla collectively could possibly be problematic for Musk, as his Tesla manufacturing services in Germany and China are each in international locations which have disputes with Twitter over content material moderation and censorship.

Telsa shares fell after the Twitter information turned public, earlier than rallying to shut up, at $249.44.