Elon Musk Suggests Buying Twitter at His Original Price

     Elon Musk Suggests Buying Twitter at His Original Price

Elon Musk

On Thursday, April 14th, Elon Musk announced an offer to buy Twitter for $54.20 a share. On April 25th, Twitter accepted the deal. By July 8th, Musk wanted out. Then, Twitter sued Musk. For a while, it appeared we were headed for Chancery Court in Delaware for a five-day trial in October that will determine who owns Twitter. Then, at the last moment, it appeared Musk might just buy Twitter and put an end to all this.

This is a huge story with a lot of fast-moving parts to it. It’s also a story that will likely stretch out over the next few months, maybe even longer. So we thought we’d put together a guide for you, our readers, that can be updated as things continue to unfold. Because, like Elon, we ❤️ you.

So strap in. It’s going to be a bumpy ride.

Musk is apparently ready to pay full price and buy Twitter, after all

On October 4th, Bloomberg reported that Musk sent another offer letter to buy Twitter at the original price: $54.20 a share. That would mean, essentially, that after all this, and without going to trial, Musk is willing to just give up and go ahead with the acquisition.

The timing of the new offer is strange, as is the fact that Musk didn’t offer some big-but-not-as-big number to try to settle the deal once and for all. It did come just before Musk was scheduled to be deposed, though, and just after a slew of embarrassing texts between Musk and his billionaire friends came out. Twitter’s share price immediately spiked on the news.

An emergency hearing on the deal is currently reportedly scheduled for later on Tuesday.

Musk’s texts came out, and we learned a lot about how the deal fell apart

Jack Dorsey, Joe Rogan, Larry Ellison, Jason Calacanis — Musk texted with a huge number of people about the Twitter deal, and the release of many of those texts gave us some insight into how the deal came together and fell apart.

Things got particularly messy, it appears, when current Twitter CEO Parag Agrawal asked Musk to stop tweeting damaging things about the company. That’s when Musk immediately decided not to join the board and launched his plan to take it private. Dorsey loved the idea; Calacanis had a lot of weird ideas about it; everybody was falling over themselves to give Musk money to make it happen. The texts are weird and hilarious and very much worth a read.