After months of back and forth, the tycoon would have presented the new proposal to the company through a letter.
The founder of Tesla, Elon Muskfinally decided that to buy Twitter for $44 billion as announced last July, US media reported and ended his legal battle.
Tesla’s CEO made the offer in a letter to Twitter, which the company disclosed in a filing Tuesday with the US Securities and Exchange Commission.
The offer was made two weeks before before the trial began in Delaware for the Twitter lawsuit that sought to force Musk to proceed with the purchase.
In a statement, Twitter said it intends to close the transaction at $54.20 per share after receiving Musk’s letter.
The decision came after four attempts by the businessman to cancel the purchase through different arguments. In these attempts, the company accuses that they generated a loss of value.
In the last one, he requested access to more information about the company, a request that was rejected by the judge in the case.
After hearing the news, the company’s shares soared more than 12% and even stock market activity was momentarily suspended after the sharp jump in its valuation.
At 12:20 p.m. local time (4:20 p.m. GMT), Twitter headlines on the NYSE they were paid at $47.95 a unit.
The billionaire has not confirmed or denied this information online. that could put an end to the soap opera in which Musk and Twitter have been immersed since last summer.
Neither Twitter has spoken at the corporate level about this announcement, half an hour after the news was made public.
And it is that shortly after confirming that he would buy online messaging, Musk reversed the transaction arguing that it had found a substantial breach of several provisions of the agreement, including the number of false accounts recorded by the company.
In response, Twitter sued the businessman which led to the opening of a judicial process whose beginning was scheduled for October 17 in Delaware, and which is supposedly now paralyzed.
Fake accounts, the key to negotiation
Musk warned that his purchase of Twitter would not be carried out until he had guarantees on the real number of bots or fake accounts that exists between the users of the platform.
The tycoon estimated that 20% of the users of the social network are false, compared to 5% admitted by the company: “Thus, the agreement cannot go ahead”Musk threatened.
The billionaire surprised the world of finance in April when he announced that he wanted to buy Twitter. But his offer of 44,000 million dollars was put on hold until the number of fake accounts that exist on the platform, known as “bots,” were resolved.
Musk, CEO of the automaker Tesla, is currently the richest person in the world.
With information from EFE.