It was previously reported that Elon Musk’s offer to buy Twitter had expired. Now, it seems as though he is willing to complete the agreement at the agreed-upon price of $44 billion or $54.20 per share if Twitter provides more information on showing that their accounts are real.
Tesla CEO Elon Musk offered to buy Twitter with the intention of boosting its advertisement business. Musk later took issue with what he believes is a suspicious revenue estimate from Twitter in the company’s SEC filings.
Twitter’s bot problems caused Elon Musk to announce he would back out of a deal with Twitter. Twitter has since sued Musk in an attempt to force him to complete the deal. We will all find out what the outcome is this October.
One of Musk’s tweets claimed that Twitter would need to provide a sampling method for its bot users, and how accounts were verified to be real before he went through with their original Twitter buyout deal. But if it was proven that Twitter’s SEC filings were false, then the deal should not proceed.
Elon Musk believes a deal should go through with Twitter if they reveal their sampling process and the accounts are real. However, he doesn’t think it should go through if the accounts are fake.
Musk tweeted Friday that he was considering taking Twitter public, but had not sought advice from any other parties. Yet on Thursday, while arguing Musk’s claim to a false contract was “without merit,” Twitter said it held an hour-long meeting with him.
Twitter, which is using lawyers and bankers, stated that they were misled by Elon Musk.