Elon Musk renews bid to purchase Twitter: Reports

Quick Take

  • Musk changed his mind a third time and renewed a bid to buy out Twitter for his originally proposed price of $54.20.

  • Board members of Twitter had previously voted to approve the deal ahead of seeking legal enforcement on the matter, with an Oct. 17 court date.

Billionaire Elon Musk renewed a bid to purchase the social media platform, Twitter, at $54.20 per share, an unidentified source revealed in a report by Bloomberg.

In the latest turn in the Twitter ownership saga, Musk appeared to change his mind a third time since originally offering to purchase the company in April 2022. The report of Musk’s change of heart was also confirmed by CNBC. 

Notably, the $44 billion bid to buy out the social media giant had already been accepted by Twitter’s shareholders earlier in September amid a legal bid to enforce the deal. Musk, who had previously attempted to back out of the deal, appeared to change his mind, and sent a proposal to Twitter, Bloomberg reported.

On the news of Musk’s renewed bid, Twitter shares traded up, spiking around $49.00.

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