- According to a Twitter representative, the firm plans to finalize for $54.20 per share.
- On Tuesday, Twitter’s share price surged as the news of Elon Musk’s SEC filing spread.
The new SEC filing about the acquisition raises the prospect that Elon Musk’s takeover of Twitter could soon come to an end. Musk’s group has stated its intent to go through with the Twitter merger as outlined in the merger agreement. The newest update comes from Twitter, whereby they have stated their determination to finalize the purchase. According to a Twitter representative, the firm plans to finalize the deal for $54.20 per share.
Earlier on Tuesday, it was reported that Elon Musk had made a bid to buy Twitter at the prevailing asking price. Musk allegedly made a bid to acquire Twitter at the first offer price of $54.20 per share. Musk proposed the idea in a letter to the social media platform.
Twitter Stock and DOGE Price Surge
In addition, the document revealed that the legal dispute between Twitter and Musk is now on hold. The agreement to acquire remains valid, however, only if the trial and all other actions are immediately stayed by the court.
The SEC filing stated:
“On October 3, 2022, the reporting person’s advisors sent a letter to Twitter notifying Twitter that the reporting person intends to proceed to closing of the transaction contemplated by the merger agreement.”
On Tuesday, Twitter’s share price surged as the news of Elon Musk’s SEC filing spread. The announcement of Musk’s plan to accept the initial offer price caused a sharp increase in the share price. The Twitter stock soared 21.58% on the day the SEC filing was announced. Dogecoin (DOGE) supporters were overjoyed when they heard that Musk was keen on finalizing a deal to acquire Twitter and the token price surged by 8%.
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