Elon Musk and Twitter  

Elon Musk proposed a deal with Twitter that could bring a legal fight between the billionaire and the social media company to an end. The arrangement would allow Musk to acquire Twitter at $54.20 per share for a total of $44 billion, the price he agreed to pay for the company in April. Musk's lawyers submitted the latest proposal to Twitter, informing the company that Musk intended to proceed with his original offer. “We write to notify you that the Musk parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement," the letter read. In the letter, the lawyers further requested that the court battle be paused, pending the closing of the deal. They suggested that the newly revived deal include that the court "enter an immediate stay of the action, Twitter vs. Musk, et al. and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court."

Elon Musk formally responded to Twitter’s lawsuit against him, saying the court should reject the platform's "unjustifiable" request to expedite the case. In a court filing, Musk's lawyers contend that "Twitter’s sudden request for warp speed after two months of foot-dragging and obfuscation is its latest tactic to shroud the truth about spam accounts long enough to railroad Defendants into closing."

Twitter filed a lawsuit against Elon Musk for violating the $44 billion deal to buy the social media platform and asked a Delaware court to order him to complete the merger. "Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement," said the lawsuit, "Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away." Days earlier, Twitter's lawyers sent a letter to Musk’s lawyers, saying that his move to terminate the deal was “invalid and wrongful” and that he had “knowingly, intentionally, willfully and materially breached” his agreement to buy the platform.

Elon Musk sent a letter to Twitter's Chairman of the Board offering to "buy 100% of Twitter for $54.20 per share in cash." The letter, disclosed in a Securities and Exchange Commission filing, also states he intends to take Twitter private. “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk wrote. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company." "My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," he added.