Washington: Microblogging site Twitter confirmed that Elon Musk sent a letter saying he will go through the deal he signed earlier this year to buy the platform for $44 billion.
Twitter’s Investor Relations in an official statement added that “We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share,”.
As the news developed, Shares of the tech firm surged with the development of the news which moved more than 12.7 per cent before it was halted for volatility. However, when it resumed it continued to surge where it ended up 23 per cent. However, the shares of Tesla were down by 3 percent.
Earlier, Musk got into a legal battle with Twitter claiming that he was misled by Twitter concerning the number of bot accounts on its platform. These allegations were forthrightly rejected by the company.
(With Agency Inputs)
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