Elon Musk offers to complete Twitter takeover

Elon Musk is close to buying Twitter credit:Bang Showbiz
Elon Musk is close to buying Twitter credit:Bang Showbiz

Elon Musk has offered to complete his $44 billion Twitter takeover.

The Tesla CEO - who is the world's richest man - has confirmed via his legal team that he's prepared to complete the acquisition of the micro-logging platform, after months of legal wrangling.

A notice filed by Musk’s lawyers with the Delaware chancery court on Tuesday (04.10.22) read: "We write to notify you that the Musk parties intend to proceed to closing of the transaction."

Twitter has also confirmed its intention to close the deal.

The company said in a statement: "We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share. (sic)"

Musk, 51, launched his takeover bid for Twitter in April.

However, he subsequently tried to back out of the deal amid concerns that Twitter had miscounted the number of spam or bot accounts on the platform.

Musk was actually set to face the company in court on October 17, with numerous experts suggesting he was unlikely to win the case.

Meanwhile, the Tesla boss previously outlined his long-term vision for the social media platform.

He said: "If I were to own Twitter, it would be geared towards the middle 80 percent of the population, so technically the far left and far right would probably be dissatisfied."

Musk also revealed that he would support Donald Trump's return to Twitter.

The former US President was banned from the platform in early 2021 - but Musk suggested he'd reverse the decision if his takeover was given the green light.

He wrote: "Even though I think a less divisive candidate would be better in 2024, I still think Trump should be restored to Twitter."