Washington: Tesla CEO Elon Musk informed that he is ready to take over Twitter. Musk announced this decision in a letter sent to the Twitter company. Musk has announced that he is ready to buy Twitter for 44 billion US dollars. Twitter had approached the court against Musk, accusing him of withdrawing from the contract after deciding to buy the stock at a fixed price.
A Twitter spokesperson has also confirmed that the stock is being bought at a price of 54.20 dollars. This is the same price that was agreed upon before withdrawing from the contract. Musk announced in July this year that he is stepping out from the deal. Following this, Twitter was preparing for a legal battle with Musk. Tesla shares fell 3 percent after Musk’s announcement.
Following Musk’s decision to buy Twitter, Twitter’s stock price soared. Musk’s claim is to replace fake accounts and make Twitter an independent media.