Amid legal battle between Elon Musk and Twitter over $44 billion twitter deal, the billionaire and Tesla CEO Elon Musk has decided to buy Twitter again at $54.20 a share.
Tesla CEO Elon Musk has reportedly proposed again to buy Twitter at $54.20 a share, the same price he originally proposed in April this year before terminating the $44 billion takeover deal, an IANS report said.
Musk had backed out of the Musk- Twitter deal over 2 months back after accusing the company of refusing to give him information about its spam bot accounts, Musk now has new plans.
Musk on Tuesday in his public statement said that Twitter deal will be an accelerant to creating X, the everything app. The Tesla CEO tweeted, “Buying Twitter is an accelerant to creating X, the everything app”
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
“Twitter probably accelerates X by 3 to 5 years, but I could be wrong”, he further added in a tweet.
The Tesla CEO had earlier mentioned X.com in a tweet back in August 2021. Replying to a tweet asking what his plans were if his deal to purchase Twitter doesn’t go through, Musk had mentioned X.com.
X.com was an online bank co-founded by Elon Musk back in 1999. In 2017 Musk repurchased the domain name X.com from PayPal.
The social media company has sued Musk in July to him to complete the deal. As per the developments in August end, a former head of security at Twitter alleged that the company misled regulators about its poor cybersecurity defences and its negligence in attempting to root out fake accounts that spread disinformation. Musk eventually cites the whistleblower as a new reason to scuttle his Twitter deal, a PTI report said.
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