{"id":68104,"date":"2022-10-04T19:43:16","date_gmt":"2022-10-04T16:43:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68104"},"modified":"2025-09-07T12:15:38","modified_gmt":"2025-09-07T09:15:38","slug":"bloomberg-reports-elon-musk-to-proceed-with-twitter-acquisition","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-reports-elon-musk-to-proceed-with-twitter-acquisition\/","title":{"rendered":"Bloomberg reports Elon Musk to proceed with Twitter acquisition"},"content":{"rendered":"

Elon Musk sent a letter to Twitter’s management proposing to resume the takeover process. Bloomberg<\/a> reports, citing informed sources.<\/p>\n

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According to them, the billionaire outlined initial terms \u2014 $54.20 per share. In April, the social network’s management approved the deal for a total of about $44 billion<\/a>.<\/p>\n

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Twitter shares surged on the news. At one point the stock traded at $50, but later pulled back to around $48.<\/p>\n

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\\\"Bloomberg
Hourly chart of TWTR on the NYSE. Data: TradingView.<\/figcaption><\/figure>\n

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The news of the deal revival also pushed meme cryptocurrency Dogecoin (DOGE) higher. Over the last 24 hours the asset rose 7.6% (CoinGecko<\/a>).<\/p>\n

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\\\"Hourly
Hourly chart DOGE\/USD on Binance. Data: TradingView.<\/figcaption><\/figure>\n

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In early April, Musk became the largest shareholder of Twitter after purchasing 9.2% of the shares for $2.89 billion<\/a>.<\/p>\n

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On April 14, he proposed to buy the social network for more than $43 billion<\/a>. The entrepreneur explained this as an intention to create an \\”inclusive arena for freedom of speech,\\” not a money-making venture.<\/p>\n

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Earlier on May 13, the head of Tesla announced the suspension of the Twitter acquisition<\/a> after media reported inflated audience metrics for the platform. He also accused the social network’s algorithms<\/a> of manipulating users.<\/p>\n

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Twitter shareholders filed suit against Musk<\/a> over the \\”chaotic process\\” of the takeover. The latter also made claims against the billionaire<\/a>, demanding to fulfill the obligations and complete the purchase.<\/p>\n

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On July 29, the businessman filed a countersuit<\/a>. He stated that he was ready to close the deal on the original terms if Twitter reveals the method for sampling 100 accounts and the method for confirming their authenticity.<\/p>\n

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In early August, Twitter’s lawyers summoned Binance’s division to court<\/a> due to the financing allocated to it<\/a> for Musk’s takeover of the social network. The subpoenas were also served on the billionaire’s financial advisers, investors and potential lenders.<\/p>\n

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According to court documents, Sam Bankman-Fried was \\”potentially interested\\” in financing Musk’s purchase of Twitter.<\/p>\n

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Read ForkLog’s Bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

Elon Musk sent a letter to Twitter’s leadership proposing to resume the takeover process. Bloomberg reports, citing informed sources.<\/p>\n","protected":false},"author":1,"featured_media":68105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1217,40],"class_list":["post-68104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elon-musk","tag-twitter"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68104"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68104\/revisions"}],"predecessor-version":[{"id":68106,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68104\/revisions\/68106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68105"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}