$Tesla (TSLA.US)$IFTNews International Finance News: Elon Mu...
$Tesla(TSLA.US$IFTNews International Finance News: Elon Musk once again offered to buy Twitter (NYSE: TWTR) for $54.20 a share. The deal between Elon Musk and Twitter could be done as early as Friday, according to a regulatory filing on Tuesday. In addition, the social media giant said it had received a letter of intent from CEO Tesla, Inc..
Twitter initially sued Tesla, Inc. 's chief executive to force a takeover agreement, which led to Mr Musk's counterclaim. Ahead of the October 17 due date, the common assumption among observers was that Twitter had an advantage. This may be a factor in Musk's decision to change course in order to avoid trial. Dan Ives, an analyst at Wade Bush Securities, believes that this is the case, because Musk's chances of winning in court are "slim".
Later, Musk said on Twitter: "the acquisition of Twitter is the catalyst for the creation of universal application X."
Elon Musk reportedly chose to close the deal with Twitter before receiving financing and closing the lawsuit. News of the decision sent the company's shares up more than 20 per cent to more than $52. Trading in Twitter shares was suspended briefly after Bloomberg first reported Musk's decision. Despite the positive development of the company's share price, its value is still lower than the purchase price proposed by Musk.
Twitter initially sued Tesla, Inc. 's chief executive to force a takeover agreement, which led to Mr Musk's counterclaim. Ahead of the October 17 due date, the common assumption among observers was that Twitter had an advantage. This may be a factor in Musk's decision to change course in order to avoid trial. Dan Ives, an analyst at Wade Bush Securities, believes that this is the case, because Musk's chances of winning in court are "slim".
Later, Musk said on Twitter: "the acquisition of Twitter is the catalyst for the creation of universal application X."
Elon Musk reportedly chose to close the deal with Twitter before receiving financing and closing the lawsuit. News of the decision sent the company's shares up more than 20 per cent to more than $52. Trading in Twitter shares was suspended briefly after Bloomberg first reported Musk's decision. Despite the positive development of the company's share price, its value is still lower than the purchase price proposed by Musk.
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