Elon Musk just remembered he signed a contract to buy Twitter
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After six months of trying wriggle out of his $44-billion agreement to take over Twitter, Elon Musk says he’ll buy the social media platform after all.
On Oct. 4, Musk told the social media company that the deal is back on. In a letter to Twitter, first reported by Bloomberg, Musk said he is willing to go ahead with the deal at $54.20 per share, the original agreed-upon price.
It’s unclear what changed Musk’s mind. Perhaps it was the prospect of a high-profile trial against Twitter, which was due to start in two weeks, or it may be that his latest overture is just a negotiating tactic.
But Musk’s maneuvering doesn’t change the fact that Twitter still has the upper hand in the fight. The company’s stock spiked after news that the billionaire offered to stick to the signed deal, though trading was halted shortly after.
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