Twitter Formally Responds to Elon Musk’s Offer to Buyout the Company

Twitter has responded to Elon Musk’s offer to buyout the company for the original offer of $54.20 a share.



“We received the letter from the Musk parties which they have filed with the SEC. Our intention is to close the transaction at $54.20 per share,” Twitter’s General Counsel in an email to staff.

This would remove a major obstacle to closing the deal, which has been in litigation for months over numerous items that Elon Musk has disputed with the company, including the true number of fake accounts/bots.

After the news broke on Tuesday, many have reported a major loss of followers.

“JUST IN 🚨 Multiple Twitter users report unexpected and sudden decrease in followers count following Musk buyout deal news,” Insider Paper reported.

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Numerous accounts shared the news that they were losing followers, many suspecting it was due to a ‘bot purge.’

“Mass bot check going on right now. Just lost 1500 followers,” Spitfire said.

“Just lost 3200+ followers,” Art Valley said.

“Wow… I just lost 1,400 followers,” Dave Rich said. “I’m just going to take a wild guess here and say that it was Twitter removing & eliminating bots & fake accounts. Thanks Twitter, I appreciate you saving me some work.”

Elon Musk himself reportedly lost 6,500 followers. But if that’s the price it takes to restore freedom to the platform, I’m sure most Twitter users would gladly take it.

Earlier on Tuesday, tech billionaire Elon Musk proposed to proceed with his buyout of influential social media platform Twitter at a price of $54.20 per share. This was the same as his initial April offer.

Twitter shares spiked upon the surprising news and trading was halted.

Musk’s deal has come amid a contentious court battle that has forced Twitter to reveal the internal workings of the platform. Court documents released last week revealed numerous conversations by Musk over his reasons for making an initial buyout offer and his attempt to take a seat on the board.

Twitter shareholders in September voted to approve Elon Musk’s $44 billion bid to take over the social media platform.

Musk also teased what he’s got planned next after taking over Twitter.

“Buying Twitter is an accelerant to creating X, the everything app,” he said.

It’s not clear what that is, but it’s sure to be interesting.

Notice: This article may contain commentary that reflects the author's opinion.