https://www.axios.com/2022/10/04/elon-musk-twitter-settlement
Elon Musk has offered to proceed with a $44 billion buyout of Twitter, according to a letter his lawyer sent to Twitter's legal team that was submitted to regulators Tuesday.
Driving the news: According to the letter, Musk has agreed to proceed in closing the transaction in accordance with the April 25 merger agreement he originally signed, in which he agreed to pay $54.20 per share.
Why it matters: The agreement would preempt a trial that had been scheduled for October, tied to Musk's efforts to walk away from his original acquisition agreement.
In response, Twitter said Tuesday, "We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share."
https://www.cnn.com/2022/10/05/tech/elon-musk-twitter-deal-next-steps
New York CNN Business —
Elon Musk appears to be closer to completing his $44 billion acquisition of Twitter than at any point since he first said the deal was “on hold” nearly five months ago. But it’s not a done deal yet.
Musk earlier this week sent a letter to Twitter (TWTR) proposing to move forward with the acquisition at the original price of $54.20 per share and suggesting the litigation over his initial effort to exit the deal be dropped. Twitter (TWTR) replied saying it had received the letter and plans to close the deal on the originally agreed upon terms.
But Twitter and Musk on Wednesday had yet to reach an agreement on ending the litigation, which would avert the trial that’s set to take place in less than two weeks, a person familiar with the negotiations told CNN. The source added it was unclear if the two parties would reach an agreement on Wednesday.
The judge overseeing the case on Wednesday also filed a letter saying that neither party has moved to stay the proceedings in the case and “I, therefore, continue to press on toward our trial set to begin on October 17.