Tesla CEO Elon Musk has reportedly made another offer to buy Twitter for $44 billion, news of the potential acquisition sent shockwaves through Wall Street. Elon Musk and Twitter have had a tense relationship after the Tesla CEO offered to buy the company and then backed out over allegedly inaccurate depictions of bot share data. In the latest episode of this story, Elon appears to once again want to take control of Twitter.
Bloomberg’s sources familiar with the matter said Elon Musk has made another offer to buy Twitter. details of the new attempt have not yet surfaced, but Elon Musk’s offer letter has been independently confirmed by CNBC.
Twitter’s shares soared 15 percent after the report was published, and the company later announced it was suspending trading in its stock.
In April, Elon Musk offered to buy Twitter outright for $44 billion, at a price of $54.20 per share. However, a month later, Elon Musk shelved the acquisition over a disagreement about spam accounts, demanding proof that Twitter’s claim that less than 5 percent of the service’s users were fake.
After assurances from Twitter CEO Parag Agrawal, Elon Musk threatened to pull out of the deal and in July began the process of doing so. That same month, Twitter sued Elon Musk in an attempt to force the billionaire to buy the platform at an agreed-upon price.
The two sides headed to court to argue the matter on Oct. 17.
