Elon Musk has submitted a new takeover bid for Twitter, the lawsuit has been dropped

According to American media, the billionaire repeated his takeover bid at an unchanged price. Since July, however, he has been trying to reverse this takeover.

And yet another twist on the tumultuous Musk Twitter file. While the billionaire has been trying since July to reverse his $44 billion takeover of the social network, which was signed in April, he has finally changed his mind.

According to several American media, Elon Musk sent a new takeover bid from Twitter on Tuesday. And surprisingly, the price is unchanged. However, many had speculated that the head of Tesla and SpaceX really wanted to negotiate down the acquisition of the California company at a time when the tech market has been in sharp decline since this spring.

The news, first released by Bloomberg, caused Twitter to explode. The listing was immediately suspended.

Bad try

Twitter and Elon Musk will face off in a Delaware court beginning Oct. 17. The social network had taken the billionaire to court to force him to carry out the takeover process, while the latter claims that Twitter had hidden from him important data about the volume of fake accounts rampant on the platform.

For analyst Dan Ives, Elon Musk’s turnaroundis a clear signal that he thinks his chances of winning his case are very slim and that this takeover will come one way or the other.An analysis confirmed by Bloomberg sources. The billionaire’s lawyersbelieve the trial is going poorly as Judge Kathaleen McCormick repeatedly tipped in favor of Twitter during the pretrial hearings‘ writes the news agency. The Musk camp would also lack physical evidence.

The South African-born entrepreneur is expected to appear in court on Thursday and Friday for testimony needed to set up the trial. The head of the social network, Parag Agrawal, is due to be heard next Monday.

Several elements of the filing were released last week, including forty pages of text messages between the billionaire, Twitter management and Silicon Valley leaders. These talks date from April 2022, when Elon Musk went from first shareholder to acquiring the social network in less than a month.

If Twitter admins accept the billionaire’s offer, the lawsuit — and its likely big unboxing — will be dismissed. The ball is now in the playing field of the social network.

toSEE ALSO – Twitter is suing Elon Musk to force him to buy out

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