On April 14th of 2022, tech billionaire Elon Musk proposed that he would buy social media giant, Twitter. After he canceled his original offer, the company entered a legal battle to compel him to follow through. Now, he has revived the offer again.
Musk originally offered to buy the company for $43 billion. This was after he had already purchased nearly a tenth of the company. He previously bought 9.1% of the company in 73 million shares. This placed him firmly as Twitter’s largest shareholder.
On September 13th, Twitter shareholders voted on Musk’s proposed buyout. They overwhelmingly voted to accept it. Some 98.6% of the company voted in favor of the deal at the time. Even though he is Twitter’s largest shareholder, he refrained from voting.
According to a court filing, Tuesday indicates that Musk would show up on October 6th and 7th to answer questions in Austin, Texas. Very suddenly, he proposed to buy Twitter once more at the original price. The tech billionaire may be moving forward with this in order to avoid a legal battle.
We will continue to cover this story as it develops.