Elon Musk declares to the $44 billion Twitter deal.

How much conflict does Twitter 2

Elon Musk declares his intention to proceed with the $44 billion Twitter deal.

Elon Musk, a billionaire, has once again changed his mind about purchasing Twitter. Musk’s attorney Mike Ringler informed Twitter in a letter on Monday that the billionaire plans to proceed with the acquisition of the business at the initial offer price of $54.20 per share. Elon Musk declares to the $44 billion Twitter deal.

The surprise action might be an indication that the legal fight between Twitter and Musk is getting closer to a resolution. The billionaire attempted to back out of the contract, so the social media business sued him to finish the transaction.

Musk has outlined a number of potential changes he would want to see at Twitter, including tackling bitcoin fraud and modifying the company’s content control guidelines. However, Twitter staff members and advocacy organizations are worried that the adjustments he’ll make may hurt users who are coping with abuse and hate speech on the website. Additionally, Musk has publicly declared that he will lift Donald Trump’s ban from the platform. 

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Twitter has received the letter from Musk’s lawyers, according to company spokesman Brenden Lee. According to Lee’s statement, “The Company intends to close the transaction at $54.20 per share.” A request for comment from Ringler elicited no immediate response. According to Bloomberg, who broke the story of the plan, Musk’s legal team sensed that the lawsuit was not proceeding well based on the pretrial findings. According to a source familiar with the talks who spoke to the Washington Post, Twitter is evaluating Musk’s offer but won’t make a decision for at least another day. Twitter and the billionaire have grown apart as a result of Musk’s frequent shifts in position.

In April, Musk agreed to purchase Twitter for $54.20 per share, but in July, he attempted to back out of the deal. After that, Twitter filed a lawsuit against Musk, claiming that the CEO of Tesla and SpaceX no longer wanted to purchase the social media platform because of his declining personal wealth. Musk, on the other hand, said that Twitter had misrepresented or omitted data, including the quantity of spam and phony accounts that were present on its network.

The conflict between Twitter and Musk has taken many unforeseen turns. Peiter “Mudge” Zatko, the former director of security at Twitter, launched a whistleblower lawsuit against the social media firm, claiming that the site put user security below increased revenue.

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The charges were disputed by Twitter, which claimed that they were “riddled with inconsistencies and errors and [without] critical context.” “Buying Twitter is an accelerant to inventing X, the everything app.

What Musk means by a “everything app” is not entirely apparent. A Twitter user questioned Musk in August about the possibility of starting his own social media network in the event that the Twitter acquisition fell through. Musk answered in a tweet, “X.com.”

Source: cnet



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