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Tech billionaire Elon Musk has reportedly proposed to proceed with his buyout of influential social media platform Twitter at a price of $54.20 per share. This was the same as his initial April offer. *MUSK SAID TO PROPOSE TO TWITTER TO PROCEED W/ DEAL AT $54.20 — zerohedge (@zerohedge) October 4, 2022 Twitter shares spiked upon the surprising news and trading was halted. *MUSK SAID TO PROPOSE TO TWITTER TO PROCEED W/ DEAL AT $54.20 $TWTR shares just spiked and now are halted pic.twitter.com/cF6k1SfF1r — Kailey Leinz (@kaileyleinz) October 4, 2022 Musk’s deal has come amid a contentious court battle that has forced Twitter to reveal the internal workings of the platform. Court documents released last week revealed numerous conversations by Musk over his reasons for making an initial buyout offer and his attempt to take a seat on the board.
Twitter shareholders in September voted to approve Elon Musk’s $44 billion bid to take over the social media platform.
Elon Musk had contested his proposed deal in court, due to credible reports that Twitter is misreporting the number of fake accounts or “bots” on the digital platform. Twitter continues to insist that only 5% of daily active users […]
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