Elon Musk Reportedly Proposes to Move Forward With $44B Twitter Deal

Billionaire Elon Musk has reportedly changed his mind about buying Twitter yet again.

On Tuesday, Bloomberg reported that Musk proposed to move forward with purchasing the company for the original offer price of £54.20 per share. Bloomberg, citing anonymous sources, reported that Musk suggested the idea in a letter to the company. Twitter and Musk are currently in a legal battle over a £44 billion deal Musk tried to end.

The letter could be a sign that Twitter and Musk are moving closer to resolving their legal dispute. Musk’s hesitancy about purchasing Twitter has created uncertainty about the social network’s future. Twitter didn’t immediately respond to a request for comment.

Musk agreed to buy Twitter for £54.20 per share in April but changed his mind and tried to back out of the agreement in July. That prompted Twitter to sue Musk, alleging in a lawsuit that the reason why the Tesla and SpaceX leader didn’t want to buy the social network anymore is because his personal wealth has fallen. Musk, on the other hand, accused Twitter of misrepresenting or omitting information, including about the number of fake and spam accounts on its platform. 

Twitter and Musk are scheduled to go head-to-head in a five-day trial in the Delaware Chancery Court on October 17.

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