Elon Musk has offered to buy Twitter for a second time this year, the social media site has confirmed. In a statement, Twitter said it planned to agree to the offer at $54.20 (£47.23) per share.
The $54.20 price is the same price Mr Musk had previously put forward. The deal would value the company at $44billion (£38.3bn).
A spokesperson for Twitter said: “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 dollars per share.”
Mr Musk had offered to purchase Twitter but pulled out in July. Lawyers for Mr Musk said it was due to the platform “not complying with its contractual obligations” surrounding the deal, namely giving him enough information to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform”.
Twitter said in response it was “committed to closing the transaction” and launched legal action.
A month later, in a published court document, Twitter accused Mr Musk of “looking for an excuse” to get out of the deal, with the firm calling Mr Musk’s accusations “factually inaccurate, legally insufficient, and commercially irrelevant”. The stalled takeover was due to head to trial in the US later this month.
