Elon Musk is said to have submitted his proposal in a letter to the Twitter board of directors.
(Photo: AP)
new York The boss of the electric car manufacturer Tesla, Elon Musk, is making a U-turn in the dispute over the takeover of the short message service Twitter. According to the Bloomberg agency and the Wall Street Journal, citing insiders, the billionaire wants to take over the company after all.
Musk submitted his proposal in a letter to the Twitter board of directors. Twitter shares rose as much as 18 percent in New York trading after the news broke after trading was briefly halted.
Musk had been trying for months to get out of his deal to acquire Twitter, signed in April. He initially claimed that Twitter had deceived him about the size of its user base and the proliferation of fake accounts, so-called bots. He later accused Twitter management of breaching the takeover agreement.
More: Twitter shareholders approve Musk’s purchase – the most important answers to the takeover dispute
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