Weeks before Elon Musk and Twitter were prepared to fight it out in court, the billionaire says he is prepared to go through with his initial offer. Musk was sued by Twitter for trying to back out of the deal, but in a recent letter from his attorneys, Musk makes it clear that he is ready to close the $44 billion transaction at $54.20 a share.
Twitter shareholders rejoiced at the news as its stock skyrocketed 20% and rose to $52 per share. This price is slightly lower than it was when Musk first sent his offer due to Twitter’s lawsuit and Musk’s hesitancy to carry out the takeover.
Many on the left have been hoping that this deal would stall and are taking no comfort in Musk’s new found confidence. Their fear is that Musk will lift censorship and create a platform which is devoted to promoting free speech. Some members of the media even believe that the deal could finalize in time for Musk’s version of Twitter to have an effect on midterm elections.
NBC News reporter Ben Collins voiced his fears, writing, “For those of you asking: Yes, I do think this site can and will change pretty dramatically if Musk gets full control over it. No, there is no immediate replacement. If it gets done early enough, based on the people he’s aligned with, yes, it could actually affect midterms”.