Elon Musk Will Buy Twitter For $44B After Months-Long Dispute

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SpaceX founder Elon Musk during a T-Mobile and SpaceX joint event on August 25, 2022 in Boca Chica Beach, Texas. The two companies announced plans to work together to provide T-Mobile cellular service using Starlink satellites. (Photo by Michael Gonzalez/Getty Images)
If everything goes as planned, we won't be seeing Musk and Twitter head to court later this year.

Elon Musk may have thought he was off the hook in his multi-billion dollar deal with Twitter, but after months of legal disputes and social media trash talk, the South African engineer has once again found himself right back where he started.

According to TMZ, the father of nine's lawyer submitted a proposal letter on Sunday (October 2), stating that he "intends to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement," which means Musk is seeking to close the deal at its original price of $54.20 a share.

BEVERLY HILLS, CA - DECEMBER 11: Tesla Motor Company and Solar City CEO Elon Musk attends Rihanna's First Annual Diamond Ball at The Vineyard on December 11, 2014 in Beverly Hills, California. (Photo by Jason Merritt/Getty Images)

Twitter has confirmed that they're on board with the plan, tweeting "The intention of the Company is to close the transaction at $54.20 per share," on Tuesday (October 4) afternoon.

It's been noted that shareholders had previously signed off on the initial deal – as did government regulators – although things took a turn for the worst when Musk desperately fought his attempt to buy just one month after making a big-ticket offer of $44B.

At the time of his change of heart, the 51-year-old claimed that Twitter didn't follow through with their contractual obligations to him, specifically regarding business information that he had requested, as well as the number of spam-bot accounts on the platform.

Though Musk didn't intend to go through with the deal, the company threatened to take him to court over the situation and even filed a lawsuit.

It's been noted that the trial was set to begin later this month (even after the Tesla head requested it be pushed back to a later date), but if everything works out between both parties, there will be no need to head to court.

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About The Author
Hayley Hynes is the former Weekend Managing Editor of HotNewHipHop, she stepped down after two years in 2024 to pursue other creative opportunities but remains on staff part-time to cover music, gossip, and pop culture news. Currently, she contributes similar content on Blavity and 21Ninety, as well as on her personal blog where she also offers tarot/astrology services. Hayley resides on the western side of Canada, previously spending a year in Vancouver to study Fashion Marketing at Blanche Macdonald Centre and Journalism at Mount Royal University in Calgary before that. She's passionate about helping others heal through storytelling, and shares much more about her life on Instagram @hayleyhynes.
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