The Deal Is On: In U-Turn, Elon Musk Offers To Proceed With Twitter Buyout

San Francisco: Elon Musk on Tuesday offered to proceed with his offer to buy out Twitter, days before the trial in the case over the billionaire’s efforts to walk out from the deal was set to start in a Delaware court.

Musk said in a filing with the Securities and Exchange Commission that he sent Twitter a letter promising to honour the contract, a Reuters report said.

“We write to notify you that the Musk Parties intend to proceed to closing of the transaction,” read a copy of the letter to Twitter filed with the SEC.

Twitter confirmed to AFP that it received the letter from Musk and said it intends to close the buyout deal at the agreed-on price of $54.20 per share, the report said.

Musk had earlier argued that Twitter misled him on “spam bot” accounts, the reason he cited for cancelling the deal.