In an unexpected u-turn, Tesla CEO and billionaire Elon Musk looks set to complete his $44 billion acquisition of Twitter, alleged spam bots, fake accounts and all.
According to the notice filed by Musk’s lawyers with the Delaware Chancery Court on Monday, which was overseeing the trial, Musk is ready to “proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement.”
It follows several months of legal drama with the social media platform where Musk tried to back out of the deal, citing Twitter’s lack of transparency around spam bots, fake accounts and the financial health of the business, and came just weeks before a rapidly approaching court date to settle the matter on Oct. 17.
Musk’s proposed deal comes on the condition that there is “an immediate stay of the action” an adjournment of the trial and pending receipt of financing.
Twitter appears ready to accept the terms of the deal, announcing in an Oct. 4 Twitter post they intend to close the transaction at $54.20 per share.
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