Elon Musk Reversed His Decision Regarding A Deal Presented By Twitter

Elon Musk sent a letter to Twitter informing the company that he intends to proceed with a deal that he previously backed out of. Twitter stated that the goal of the company is to close the transaction at $54.20 per share. Musk originally agreed to the deal, then quickly tried to back out of it after him and his attorneys claimed that the company was misleading investors by presenting incorrect numbers in corporate filings with the Securities and Exchange Commission. Twitter argued that the accusations of fraud were false and based on a misunderstanding. The company sued Musk in attempt to get him to go through with the purchase and the trial was set for October 17th. Now, Musk has changed his mind and decided that he will be purchasing Twitter for the original price agreed upon in the deal, which could close as soon as Friday.