After a months-long dispute over the sell of Twitter, Elon Musk is set to buy the social media platform at the original asking price for $54.20 a share.
Twitter said in a statement that "the intention of the Company is to close the transaction at $54.20 per share.” This comes on the heels of legal drama following Musk attempting to back out of the deal. The dispute was set to be handled through trial proceedings later this month but both sides reached a new agreement on Tuesday.
This, after Musk told Twitter that he would be willing to purchase the company at the original price. His attorneys also filed a letter with the SEC stating by moving forward with the purchase under the original terms that the Delaware Chancery Court will "adjourn the trial and all other proceedings related" to the ongoing lawsuit.
Source: Engadget.com
