Musk offers to buy Twitter at original price if Twitter drops lawsuit

According to documents filed with the U.S. Securities and Exchange Commission on October 3, Elon Musk has offered to buy Twitter for its originally offered share price of $54.20 if the company drops its lawsuit.

Musk had offered to buy Twitter for US$44 billion in April 2022, but then tried to withdraw the deal on July 8, telling Twitter that less than 10% of its Twitter accounts were controlled by bots. requested to prove that

Twitter filed a lawsuit a few days later, accusing Musk of defaming the company and driving its stock price down. Its full court filings have not been made public. Musk countersued his Twitter in the same month.

The two companies were scheduled to meet in court on October 17.

Trading in Twitter’s stock was suspended twice following the first reports on Tuesday. bloomberg.