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Elon Musk offers to buy Twitter for original price, weeks before trial

Twitter plans to accept so long as a judge oversees the offer, marking the latest surprising twist in Musk’s months-long campaign to acquire the social media platform

Updated October 4, 2022 at 5:03 p.m. EDT|Published October 4, 2022 at 12:30 p.m. EDT
Elon Musk reversed course and made a proposal to acquire Twitter at $54.20 a share, according to a legal filing on Oct. 4. (Video: Reuters)
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Elon Musk has offered to proceed with a deal to buy Twitter at the price he proposed months ago before trying to call it off, according to a legal filing, a stunning development weeks before the two sides were due to face off in a trial.

In a letter that Musk’s side sent to Twitter overnight, he offered to go ahead with the deal at $54.20 a share if the Delaware Chancery Court, which was scheduled to hold the trial on Oct. 17, agrees to “enter an immediate stay” of the case “and adjourn the trial and all other” related proceedings. Twitter enclosed a copy of the letter from Musk’s attorneys in a financial filing Tuesday.