Elon Musk offers US$44 billion to buy Twitter, says newspaper

This note was updated at 15:30 p.m.

Twitter stock suspended on Wall Street over possible deal with Elon Musk

Twitter's share price was suspended this Tuesday (4) on Wall Street “awaiting information”, after the Bloomberg agency mentioned a possible agreement to purchase the social network by Elon Musk, at the agreed price in April.

Its shares froze for five minutes, then soared 18% before being suspended again.

$54,20 per share

According to Bloomberg, Musk sent a letter to Twitter on Monday (3) proposing the purchase of the platform for US$54,20 per share, the price initially agreed with the company's board.

According to the CNBC network, the agreement could be concluded between Friday and Monday.

The two parties signed a contract at the end of April, but Musk unilaterally wanted to leave the pact in July.

The social network opened a lawsuit to force him to honor his commitment, and it seemed like he had a chance of winning in court.

"It's a clear sign that Musk recognizes that his chances of beating the (Twitter) board in a Delaware court are very slim, and that the $44 billion buyout will happen one way or another," the analyst said. Dan Ives of Wedbush Securities.

(With AFP)

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Twitter lawyers and Elon Musk debated what the parties should bring to this Tuesday's unprecedented trial (27) regarding the US$44 billion purchase agreement for the social network that the tycoon failed to comply with. “Let’s put aside the rhetoric and get to the heart of the matter,” exclaimed Judge Kathaleen McCormick, after more than three hours of arguments presented at the preliminary hearing held virtually.