It’s been a roller coaster ride between Elon Musk and Twitter this year with the Tesla CEO giving up on the acquisition back in July. Days after, Twitter sued Musk for breach of contract. Now in the latest chapter of the saga, Musk has sent a letter to Twitter with a proposal to go through with the $44 billion purchase.
Reported by Bloomberg, anonymous sources close to the situation shared about Musk sending a new letter to Twitter. It proposes going through with the previously agreed-upon price of $54.20 per share for a $44 billion buyout after all.
This comes just under two weeks before Musk was set to go to trial on October 17 in the lawsuit Twitter brought against him.
After trading was halted, Twitter shares are up almost 13% on the news with a trading price of just under $48 at the time of writing.
Meanwhile, Washington Post’s Elizabeth Dwoskin and company say Twitter is thinking about the offer from Musk and noted the high levels of distrust between the two parties.
If Twitter does decide to accept Musk’s latest offer to go through with the purchase, CNBC says it “has learned that Musk could own Twitter within a matter of days and that all litigation would come to an end.”
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