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Elon Musk once again offers to buy twitter, share price soars 22%


Elon Musk has again agreed to acquire twitter for the same price per share that he had quoted in the beginning of the bargain. He is planning to buy the company at US$ 54.20 per share. The stock, which was halted after the report by Bloomberg, jumped 22% once reopened.

The Tesla CEO has revived his plans to go ahead with the deal. This news comes after much specualtion on the subject. Musk had agreed to buy the social media comapny on April 25, but later he changed his mind stating that the number bots on the site is much higher than what twitter claims it to be. 

Musk had officially informed the company in July about his intention of terminating the deal, which valued twitter at US$ 44 billion.

Musk had accused twitter of misleading the investors by giving wrong information about bots, spams and fake accounts. However, the social media company defended itself by stating that Musk's accusations were baseless and false.

Twitter later sued Musk with the intention of forcing him to go through with the deal. The court trial was due on October 17 in Delaware Chancery Court.

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