BusinessElon Musk advances in the purchase of Twitter and the actions of...

    Elon Musk advances in the purchase of Twitter and the actions of the social network shoot up and then stop

    Elon Musk advances in the purchase of Twitter and the actions of the social network shoot up and then stop

    Twitter shares soared in the Stock Market and then stopped this Tuesday, October 4, after it was reported that the CEO of Tesla Elon Musk agreed to buy the company for the original value of $54.20 dollars per share to give a total of $44,000 million dollars.

    Specialized media reported a rise of 13% in the titles of the social network after knowing the supposed acceptance of the Musk purchase after three previous cancellation attempts, alleging “substantial” breaches of platform contract clauses.

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    Bloomberg and the Washington Post reported that Musk sent a letter to Twitter proposing to end the deal as originally signed.

    Twitter shares were trading for below $43 dollars at the beginning of the day. After the news broke, the value exceeded $48 dollars.

    The news is given while both parties They were preparing to face trial on October 17 for Musk’s attempted removal. The technology company accused the world’s richest man, with a net worth of more than $220 billion, and previously sued him to enforce the agreement reached in April this year.

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    Some analysts saw the possibility that Musk will win in the court of “highly unlikely”.

    The agreement could put an end to the statements and attacks that Musk and Twitter sustained for months, which exacerbated the uncertainty of employees, investors and users of the social network.

    Josh White, an assistant professor of finance at Vanderbilt University, told CNN that Twitter is likely to suspend the legal battle to move forward with the deal. So far, the technology company has expressed itself in this regard.

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    It may interest you:
    -Twitter Shareholders Vote to Approve $44 Billion Acquisition of the Company by Elon Musk
    -Elon Musk Found Another Reason Not To Buy Twitter: What It’s About
    -Why Elon Musk sold almost 7 million shares of Tesla

    Source: La Opinion

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