Elon Musk To Proceed With His Offer To Buy Twitter

World's richest man, Elon Musk is set to go through with his original $54.20 per share offer to acquire Twitter.

 

This was confirmed in a letter filed with the U.S. Securities and Exchange Commission, SEC.

 

The letter showed Musk will follow through on the $44 billion acquisition pending the receipt of the deal’s debt financing.

 

Twitter had first accepted Musk’s offer in April this year.

 

The billionaire informed Twitter in July that he was planning to terminate the deal after alleging the company breached its obligations by misrepresenting the number of spam and fake accounts on the platform.

 

However, Twitter maintained that spam and fake accounts make up less than 5% of its users.