The turbulent adventure of Elon Musk’s hit or miss acquisition of Twitter took a move in the direction of an end Tuesday after the irregular Tesla Boss proposed to purchase the organization at the initially settled on cost of $44 billion.
Musk made the astonishing circle back not on Twitter, as has been his custom, but rather in a letter to Twitter that the organization revealed in a filing Tuesday with the U.S. Securities and Exchange Commission. It came just two weeks before a preliminary between the two parties is slated to begin in Delaware.
Accordingly, Twitter said it plans to close the deal at $54.20 per share subsequent to getting the letter from Musk. In any case, the organization didn’t say it’s dropping its claim against the super rich Tesla President. Experts said, that appears to be legit given the hostile relationship and absence of trust between the two parties.
“I don’t think Twitter will give up its hearing date on only Musk’s statement — it will require more sureness about closing” said Andrew Jennings, professor at Brooklyn law school, taking note that the organization may likewise be stressed over Musk’s proposition being a defer strategy. Perhaps, he’s as of now attempted to delay the hearing two times ineffectively.”
In case you are not aware
- Parag Agrawal, an Indian-American software engineer who is the chief executive officer (CEO) of Twitter, Inc. Agrawal held research internships at Microsoft Research and Yahoo! Research prior to joining Twitter as a software engineer in 2011. In October 2017, Twitter announced the appointment of Agrawal as chief technology officer following the departure of Adam Messinger. In December 2019, Twitter CEO Jack Dorsey announced that Agrawal would be in charge of Project Bluesky, an initiative to develop a decentralized social network protocol. In November 2021, Dorsey announced that he was resigning as CEO of Twitter and that Agrawal was replacing him immediately. As CEO, Agrawal was awarded annual compensation of $1 million as well as stock compensation worth $12.5 million.
- Elon Reeve Musk is a business magnate and investor. He is the founder, CEO, and chief engineer of SpaceX; angel investor, CEO, and product architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI. With an estimated net worth of around $238 billion as of September 26, 2022, Musk is the wealthiest person in the world according to both the Bloomberg Billionaires Index and Forbes’ real-time billionaires list.
