Elon Musk Officially Going Through With $44 Billion Twitter Deal

Here’s something to tweet about: There’s been a change in Elon Musk‘s plans. 

Six months—and a series of ups and downs—later, the Tesla CEO’s proposed $44 billion deal to purchase the social media platform is officially moving forward. 

Musk’s lawyer sent a letter to Twitter, obtained by E! News on Oct. 4, stating that “the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement,” provided that the Twitter vs. Musk trial be adjourned.

Twitter Investor Relations tweeted a statement from the company on Oct. 4: “We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share.”

This announcement comes just days before a trial between Musk and Twitter was set to begin.

Musk first shared his offer to buy Twitter in a letter to chairman Bret Taylor on April 13. “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” he wrote at the time. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”

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