Twitter stock trading has been suspended ahead of the news that the billionaire Tesla CEO is ready to go along with his purchase of the social media giant. The deal was initially thrown into jeopardy when Elon Musk accused the platform of underreporting the number of bots it had on site; the legal dispute was due to start in a Delaware court on Oct. 17. Reports suggest that Musk is willing to go ahead with the transaction at the original price of $54.20 per share.
Speculation is rampant that Musk is advancing the buyout because he feels he cannot win his case in court. Columbia law professor Eric Talley said, “On the legal merits, his case didn’t look that strong … It kind of seemed like a pretty simple buyer’s remorse case.” If Musk had lost in Delaware, he could have been forced to proceed with the purchase anyway or be made to pay a hefty fee.
Twitter users were once again either thrilled or despondent at the news – depending on their political point of view. A campaign is already underway to encourage the possible new owner to bring back former President Donald Trump to the platform.