The deal would move forward at a total cost of roughly $44 billion.
Musk — the richest person in the world, according to Forbes — put forward a proposal to Twitter that would complete the deal at Musk's original offer price of $54.20 a share at a total cost of roughly $44 billion, a person familiar with the proposal told ABC News."We received the letter from the Musk parties which they have filed with the SEC," the company said on Tuesday. "The intention of the Company is to close the transaction at $54.20 per share.
Twitter rebuked that claim, saying it had provided Musk with information in accordance with conditions set out in the acquisition deal. The move from Musk marks the latest reversal of course in a saga that started in January when the billionaire first invested in Twitter. By March, Musk had become the largest stakeholder in Twitter and the following month the social media company announced that Musk would join its board. Days later, however, Musk said he had decided against joining the board.
In April, Musk offered to buy Twitter at $54.20 per share, valuing the company at about $44 billion. The offer amounted to a 38% premium above where the price stood a day before Musk's investment in Twitter became public. Roughly 10 days later, Twitter accepted Musk's offer.
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