MUSK-TWITTER ON/OFF DEAL

TWITTER and Elon Musk may be edging towards finalising a buy-out deal. After seeking for months to back out of the deal, Musk informed Twitter this week that he would proceed with the $44 billion (about R784bn) deal at the original $54.20 share price. Twitter confirmed receipt of Musk’s proposal. If there is agreement on the deal, Twitter would avert a bitterly contested trial slated to begin in the US on October 17. Some experts believe Twitter may seek legal assurances that Musk will really follow through this time before it agrees to call off the trial. |