Regístrese ahora para una mejor cotización personalizada!

Elon Musk says buying Twitter will help create X, the everything app

Oct, 05, 2022 Hi-network.com
Image: Nick_ Raille_07/Shutterstock.com

Elon Musk has renewed his offer to purchase Twitter for$54.20 a share. The Tesla and SpaceX CEO extended the offer in a letter filed with the US Securities and Exchange Commission. 

The renewed offer is the latest twist in a continued saga involving the outspoken, eccentric billionaire and the social media platform. The renewed offer comes with conditions. First, Musk has to obtain the debt financing for the deal to go through. Second, the letter says the deal will only move forward if a Delaware court drops all of the legal proceedings related to Twitter's lawsuit against Musk. 

See also

The 5 best electric cars: Plus, the cheapest EV available

What is the best electric car? The Tesla Model 3 is ZDNet's top pick. We researched the top EV brands and compared their electric car models by factors such as innovation, affordability, energy efficiency, and more. We also found the best cheap electric car and other honorable mentions.

Read now

The social media site sued Musk, claiming he could not back out of his commitment to acquire the company. The trial is set to begin later this month. 

Also:Twitter is bringing podcasts onto its platform

In a statement sent to via email, a spokesperson for Twitter said the company received the letter. 

"The intention of the Company is to close the transaction at$54.20 per share," the spokesperson said.

On Tuesday afternoon, Musk tweeted that "Buying Twitter is an accelerant to creating X, the everything app." Musk has referenced creating an "X" app in the past.

Musk has previously floated the idea of an X app as broad as WeChat, which stretches from social media, to chat, video gaming and onto payments.

Buying Twitter is an accelerant to creating X, the everything app

- Elon Musk (@elonmusk) October 4, 2022

Twitter has been in a state of turmoil since April, when Musk first said he wanted to buy the social media platform. He lined up$46.5 billion in financing to back his unsolicited bid, relying on loans and$33.5 billion from his own equity. As the deal materialized, some of Twitter's top executives were pushed out of the company and others resigned. 

However, Musk quickly began suggesting the deal was "on hold", complaining about the number of fake accounts on the Twitter platform. Then in July, Musk said he was backing out of the deal.

Twitter's board quickly responded that it was prepared to take legal action to ensure the deal closes at a price of$54.20 per share. As promised, Twitter filed suit against the Tesla CEO.

Also:After getting smashed into by a NASA spacecraft, Dimorphos asteroid grows a tail

Then last month, Twitter shareholders formally approved Musk's$44 billion takeover deal.

Meanwhile, Twitter's former chief security officer, Peiter 'Mudge' Zatko, testified before a US Senate committee in September about the social media platform's security vulnerabilities. Earlier this year, Zatko filed a whistleblower complaint alleging that Twitter's physical and digital security systems for protecting user privacy and moderating content suffered extreme deficiencies. Subsequently, Musk filed yet another letter with the SEC to argue the deal should be terminated, claiming that Zatko's$7.75 million severance package from Twitter violated the terms of the acquisition deal. 

Today -- the day after Musk renewed his acquisition offer -- a judge agreed that Twitter could proceed with a probe to determine whether Zatko had been in communication with Musk's lawyers before the billionaire backed out of the Twitter deal.

Featured

New iPhone 15 Pro overheating reports: Still too hot after iOS 17.0.3 and fresh issues arise after the updateGenerative AI will far surpass what ChatGPT can do. Here's everything on how the tech advancesiPhone 15 Pro review: Prepare to be dazzledThe best USB-C cables for the iPhone 15: What the experts recommend
  • New iPhone 15 Pro overheating reports: Still too hot after iOS 17.0.3 and fresh issues arise after the update
  • Generative AI will far surpass what ChatGPT can do. Here's everything on how the tech advances
  • iPhone 15 Pro review: Prepare to be dazzled
  • The best USB-C cables for the iPhone 15: What the experts recommend

tag-icon Etiquetas calientes: negocio Medios sociales

Copyright © 2014-2024 Hi-Network.com | HAILIAN TECHNOLOGY CO., LIMITED | All Rights Reserved.