The Tesla CEO has put his offer of $54.20 a share back on the table, according to a source familiar with the matter.
The battle between Elon Musk and Twitter (TWTR) – Get Twitter Inc. Report appears to be over.
The billionaire CEO of Tesla (TSLA) – Get Tesla Inc. Report has finally decided to resubmit his offer to acquire the microblogging website for $44 billion as he initially proposed, a source familiar with the matter told TheStreet, confirming information from Bloomberg.
Musk will acquire Twitter for $54.20 per share, the source said.
The announcement should be made by Musk and Twitter separately, the source said.
Neither Twitter nor Musk’s attorneys immediately responded to a request for comment from TheStreet.
Musk had made an offer on April 25 but withdrew it on July 8, explaining that Twitter had lied to him about the number of spam bots, or fake accounts, on the platform.
Twitter had filed a complaint, asking the Delaware Chancery Court to compel Musk to make good on his commitment.
A five-day trial was supposed to start October 17.
Twitter shares have been suspended in Wall Street trading..
