Twitter confirms Musk buyout offer, says holds firm on price

Agence France-Presse

Posted at Oct 05 2022 04:42 AM

Conditions noted in the letter included that the court immediately halt all action in the lawsuit, with Musk poised to be deposed under oath later this week. EPA-EFE/file
Conditions noted in the letter included that the court immediately halt all action in the lawsuit, with Musk poised to be deposed under oath later this week. EPA-EFE/file

Twitter told regulators on Tuesday that Elon Musk sent a letter saying he will go through with the deal he inked early this year to buy the tech firm for $44 billion.

"The intention of the company is to close the transaction at $54.20 per share," Twitter said in a tweet confirming the billionaire entrepreneur is apparently abandoning his legal battle to terminate the deal.

Conditions noted in the letter included that the court immediately halt all action in the lawsuit, with Musk poised to be deposed under oath later this week.

(More details to follow.)