Elon Musk boosted Twitter trading again to $54.20 per share.
News that Musk is offering to advance for the $44 billion purchase was first reported by Bloomberg. Now, a filing with the Securities and Exchange Commission shows Musk took the lead in a letter to the tech giant on Monday.
The New York Stock Exchange temporarily halted Twitter’s Occupy business twice on Tuesday, first thanks to a huge cost change and the second time due to a news event, presumably the announcement of the renewed offer from Musk.
While the cost-per–share offer for this latest initiative is still the same as the original offer, it‘s unclear if Musk made any further changes to the terms or if Twitter would reject it. According to other reports, a deal could be reached this week.
The stock closed at $52.00 per share on Tuesday, suggesting market uncertainty around the $54.20 supply.
After Musk informed Twitter of his intention to overturn the initial consensus in July, Twitter filed a lawsuit. A trial is scheduled in the Delaware Court of Equality on October 17.
With the takeover initiative back on the table, it raises the question of whether Musk could transport Twitter from San Francisco to central Texas.
He did this with several of his other companies. Tesla‘s headquarters in southeast Travis County opened earlier this year, and tunneling firm The Boring Company moved to Pflugerville. At least two other Musk organizations, SpaceX and Neuralink, have a presence in Texas without being based here.
Technology journalist Nilay Patel expressed concern this afternoon that the link between Twitter and Tesla could be problematic for Musk, since his Tesla construction facilities in Germany and China are in territories that have disputes with Twitter over content moderation and censorship.
Shares of Telsa fell after the news broke on Twitter, before rallying to close at $249.44.