Here We Go Again: Twitter Agrees To Musk Buyout
Yet another chapter in the Elon Musk and Twitter saga has just been published, and this time around, it's a big one. Just like in the Katy Perry smash hit "Hot N Cold," Elon Musk has been in and out when it comes to the Twitter deal, so much so that most of us can no longer keep up with the current status. This time, though, it seems like Musk has made up his mind, and what's even more exciting is that despite the disagreements, Twitter seems to be up for it. Here's what we know about the latest developments in this bizarre buyout deal.
The whole situation started in April 2022 when Elon Musk offered to buy Twitter for $44 billion, or at $54.20 per share. His goal was to take the company private and ultimately make some changes to it. Musk has been a vocal supporter of free speech on the platform, so there might be some changes if the deal eventually comes to pass. Back in March 2022, Musk held a Twitter poll that asked the question: "Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?"
The vast majority of users voted "No," with a total of over 2 million votes. Musk noted that "the consequence of the poll will be important," although, at the time, the deal was not really in place just yet. Of course, after Musk and Twitter initially came to an agreement, things went south, the deal was called off, and legal proceedings began.
The Twitter acquisition deal is back in action
When it seemed that only a legal battle in court would settle this debacle, Musk turned around and offered to buy Twitter at his original price. However, he only pledged to do so if legal proceedings were to be stopped. It does make us wonder whether the costs of the lawsuit would be too high to make it worth it or if Musk had a change of heart, but regardless, the offer was back on the table — and Twitter just said a resounding "yes," making it all official.
Twitter has, so far, stated its intention to close the deal at $54.20 per share, which is what Musk offered earlier this year. However, there have been no mentions as to what will happen to the legal battle, so it's hard to know whether Musk's request is being met or not.
Will the deal finally go through? It very well might. Elon Musk has recently sold a whopping $6.9 billion worth of Tesla shares (via BBC News) with the looming lawsuit over his head. Now, if he will be able to buy the social media platform and avoid the whole situation, it might make this deal sweeter than it ever was before.