Twitter shares jumped on the news, surging as much as 22 percent to close at $52.The shares in Tesla, Musk’s flagship company also rose by 2.4 percent.
Elon Musk has dramatically changed the course of his Twitter deal saga, by announcing on Tuesday that he was willing to buy the social media giant at the previously agreed price of $44 billion.
Reports said Twitter acknowledged the move from Musk and that a deal can be announced as early as on Friday, putting the lid finally on the controversial takeover bid that was launched several months ago in April.
In a letter written by Musk’s lawyers, the billionaire says he is willing to go ahead with the deal under which each share of Titter is valued at $54.20. He said the intention is to complete the transaction, pending receipt of the financing and a formal end of the legal fight.
Twitter shares jumped on the news, surging as much as 22 percent to close at $52. The Twitter management said it was in receipt of Musk’s offer, and that the company plans to « close the transaction at $54.
