Twitter, was willing to accept the purchase by the director of Tesla, Elon Musk, after the tycoon backed down and returned to the agreed price in July.
The shares of the social network took flight after it was known that the tycoon accepted the offer of the company. Shortly after the Bloomberg agency made the news public, the shares of the famous social network rose by 13%, reaching a momentary suspension of stock market activity after the sharp jump in its valuation.
- Elon Musk cancels the purchase of Twitter
- Twitter takes Elon Musk to court to force the purchase of the social network
- Elon Musk suspends the purchase of Twitter, plummeting the shares of the social network
The Tesla founder will buy Twitter for $44 billion, the amount he announced last July, which means a payment of $54.2 per share. Musk’s final decision comes just two weeks before the trial begins in which the company intended to force him to comply with the offer he made months ago, which he retracted claiming that Twitter falsified data on fake accounts.
Twitter and Musk had agreed to acquire the company for that price, but the billionaire later reversed the transaction, arguing that he had found a substantial breach of several provisions of the agreement, including the number of fake accounts, accounted for by the company.