Elon Musk has offered to buy Twitter for the initially agreed price of $44bn, in a move that could put an end to one of the most high-profile corporate legal battles in decades.
The Tesla chief sent a letter to Twitter on Monday night offering to go ahead with the deal, less than two weeks before the two parties were set to go to trial in Delaware Chancery Court.
According to a regulatory filing on Tuesday, Musk’s lawyers said in the letter that the entrepreneur intended to close the deal at the previously agreed price of $54.20 a share, once debt financing is received, provided the court halted the legal action and adjourned the upcoming trial and related proceedings.
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