Deals
Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial
- Legal team for Musk sensed judge would not rule in favor
- Proposal likely eliminates need for court trial this month
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Elon Musk revived a bid to buy Twitter Inc. at the original price of $54.20 a share, backtracking on his effort to quit the deal and potentially avoiding a contentious courtroom fight.
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. San Francisco-based Twitter said it received the letter and intends to close the deal at the agreed-upon price, without commenting specifically on how it will respond to Musk.