The billionaire CEO of Tesla and SpaceX, Elon Musk has made a U-turn on his $44 billion Twitter acquisition deal after agreeing to buy the microblogging platform again on Tuesday.
Elon Musk Twitter acquisition proposal has had ups and downs since he proposed to buy the social media giant company in April.
As per a filing by Elon Musk’s lawyer on Tuesday with the US Securities and Exchange Commission, the deal to acquire Twitter will continue if Twitter agrees to drop the suit against Musk in Delaware court.
Recall that Elon Musk after closing to finalizing the deal with Twitter pulled out of the deal stating that Twitter refused to disclose every necessary information to him regarding the company, he claimed that Twitter was not faithful about the number of spam accounts in the App which eventually led to Twitter suing Musk claiming that Musk is hypocritical and of bad faith in his approach while trying to acquire Twitter.
“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,” said Twitter in a statement as a response to the new Musk filing.
If Musk finally completes the Twitter acquisition, many believe that he will integrate more crypto services into the platform, this is one of the indications that more value will be added to recent crypto value as more people will have different reasons to use crypto on many platforms and to purchase some asset classes.
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Twitter Shares, Dogecoin Soars Due to the new Filing
As the news broke out on Tuesday, it immediately sent Twitter shares up to nearly 22% after an hours-long halt in trading, although investors thought ahead that Musk will propose to buy Twitter again as Twitter shares had already been up by 12% before the news.
Also, Dogecoin as always responded to the news as the price soars by 8% on Tuesday, recall that Musk had commented about using Dogecoin as payments for Twitter blue subscriptions, crypto traders and investors are hoping that Musk after buying Twitter will definitely integrate more crypto-related services into the platform.
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