Twitter confirms offer from Elon Musk

Twitter confirms offer from Elon Musk
Credit: Canva

Twitter confirmed on Tuesday evening that it has again received an offer from billionaire Elon Musk to take over the social media company for the initial price of $54.2 per share.

Financial news agency Bloomberg had reported earlier in the day that Musk had submitted a proposal to Twitter.

Musk has been trying for months to get out of the Twitter takeover deal that he signed in April, and which Twitter's shareholders approved in September.

Shortly after the initial announcement of the deal, the Tesla CEO had already appeared to be backtracking on the deal, arguing that Twitter had misled him about the actual number of users and of automatic, non-real accounts.

In July, he officially broke off the deal, after which Twitter went to court. That lawsuit was due to start this month in the US state of Delaware.

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