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Read Elon Musk’s letter on Twitter, saying he would honor the original $44 billion deal if his court battle had an ‘immediate’ end

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Elon Musk.

Football Highlights

  • Elon Musk wants to end the months-long lawsuit with Twitter.
  • The billionaire is again offering to buy Twitter at the price he agreed to in April.
  • Read his letter below, which is being reviewed by Twitter.
  • Visit www.BusinessInsider.co.za for more stories.

Elon Musk’s lawyers sent a letter to Twitter on Tuesday offering to acquire the company for $44 billion and seeking a speedy end to the litigation.

Sent late on Monday by Mike Ringler, Musk’s attorney at Skadden, Arps, Slate, Meagher & Flom, and filed confidentially with the Delaware Court of Chancery the next day, the letter calls for taking Twitter private at $54.20 per share. This is a direct renewal of Musk’s April agreement. , The letter is being reviewed by Twitter’s lawyers and the deal is likely to be accepted.

“We have received letters from the Musk parties that they have filed with the SEC,” a Twitter spokesperson said. “The Company intends to close the transaction at $54.20 per share”.

Here is the full letter.

Gentlemen:

X Holdings I, Inc., X Holdings II, Inc. and on behalf of Elon R. Musk (“Musk Parties”), we write to inform you that the Musk Parties intend to close the Transactions expected by April. 25, 2022 merger agreement, subject to the conditions set forth therein and pending receipt of the proceeds of debt financing considered by it, provided that the Delaware Chancery Court immediately restrains the action, Twitter vs. Musk, et al. (CA No. 202-0613-KSJM) (“Proceedings”) and pending such closure or further order of the Court, adjourn the trial and all other proceedings relating thereto.

The parties provide this notice without acknowledgment of liability and without waiver or prejudice to any of their rights, including their right to claim defenses and counterclaims pending in action, including when the action Twitter fails or refuses to comply with its obligations under the April 25, 2022 merger agreement or if the transaction contemplated otherwise fails to close.

Read Elon Musk’s letter on Twitter, saying he would honor the original $44 billion deal if his court battle had an ‘immediate’ end

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Read Elon Musk’s letter on Twitter, saying he would honor the original $44 billion deal if his court battle had an ‘immediate’ end

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Read Elon Musk’s letter on Twitter, saying he would honor the original $44 billion deal if his court battle had an ‘immediate’ end

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