Elon Musk has offered to proceed with the Twitter deal at a price of $54.20 per share, two people familiar with the negotiations said, a stunning development weeks before the two sides were due to face off in a trial over Musk attempting to back out of the deal.
In a letter Musk’s side sent to Twitter overnight, he proposed closing the deal and ending all litigation, one of the people said.
Twitter is considering whether to accept the proposal, and will not act for at least another day, according to one of the people. Because there is great distrust on both sides, Twitter leaders are questioning whether the letter represents a legal maneuvering, this person said.
