Elon Musk has offered to purchase Twitter at the originally offered share price of US$54.20 if Twitter drops court actions, according to a filing by Musk to the Securities and Exchange Commission on Oct. 3.
Musk had offered to purchase Twitter for US$44 billion in April 2022, but then tried to back out of the deal on July 8 when he demanded Twitter to prove that fewer than 10 per cent of Twitter accounts are controlled by bots.
Twitter filed a lawsuit against Musk just days after, accusing him of disparaging the company and dropping its share price. Its full court filing was not made publicly available. Musk countersued Twitter in the same month.
The two companies were scheduled to meet in court on Oct. 17.
Trading of Twitter’s stock was halted twice on Tuesday following the initial report by Bloomberg.
