Musk Plans to Buy Twitter For $44B; Twitter Intends to Close Deal

Chris Menahan
Oct. 04, 2022

It's happening.

"Elon Musk revived his bid for Twitter Inc. at the original offer price of $54.20 a share, potentially avoiding a courtroom fight over one of the most contentious acquisitions in recent history," Bloomberg News reports.

"Musk made the proposal in a letter to Twitter on Monday, according to a filing with the Securities and Exchange Commission that confirmed a Bloomberg report. Shares of Twitter climbed as much as 23% when they resumed trading following a halt on the news. San Francisco-based Twitter said it received the letter and intends to close the deal at the original price, without commenting specifically on how it will respond to Musk."

It's interesting this news came out one day after Musk came under the "biggest bot attack" he's "ever seen" for proposing a perfectly reasonable Russia-Ukraine peace deal.

A recent study from researchers at the University of Adelaide found that Ukrainian bots outnumber Russian bots on Twitter by around 10 to 1.

He should ban their entire botnet once he takes over.

[This post has been updated with new information.]

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