On April 14, he proposed to buy the social network for more than $43 billion<\/a>, but the company’s leadership reacted negatively<\/a>. Later, the board reconsidered<\/a> its position, approving the deal at $44 billion<\/a>. <\/p>\n In May, the billionaire disclosed in a filing with the SEC<\/span> that the Binance exchange provided him $500 million<\/a> to purchase Twitter.<\/p>\n 25 October, Binance CEO Changpeng Zhao confirmed<\/a> plans to fund the deal.<\/p>\n In May, the Tesla chief announced a pause in the purchase<\/a> of Twitter after reports that the platform’s audience metrics had been inflated. He also accused the platform’s algorithms<\/a> of manipulating users.<\/p>\n Twitter shareholders filed a suit against Musk<\/a> over the \u201cchaotic process\u201d of the takeover. The latter also pressed claims against the billionaire<\/a>, demanding that he honour the commitments and complete the purchase.<\/p>\n On July 29, the businessman filed a countersuit<\/a>. He said he was prepared to close the deal on the original terms if Twitter reveals the methodology for sampling 100 accounts and the method for verifying their authenticity.<\/p>\n In early August, Twitter’s lawyers summoned Binance’s unit in court<\/a> over the financing earmarked for the platform’s takeover. The summons were also served on the financial advisers, investors and potential lenders to Musk.<\/p>\n On October 4, it emerged that the entrepreneur resume the takeover<\/a> of the social network on the original terms \u2014 $54.2 per share.<\/p>\n Subsequently, the court granted Musk’s request<\/a> for a postponement of the Twitter lawsuit. The document stated that the deal could be closed by October 28.<\/p>\n
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