Elon Musk Twitter Takeover Finally A Done Deal With SEC Filing?

The Elon Musk Twitter Takeover could finally come to an end soon with the latest SEC filing over the purchase. Musk’s team mentioned that it intends to proceed to closing of the transaction contemplated by the merger agreement for Twitter. In a latest development, Twitter representatives expressed intention to close the deal. A Twitter spokesperson said the company intends to close the transaction at $54.20 per share.

The Original Offer

Earlier on Tuesday, reports suggested that Elon Musk had sent a proposal for purchasing Twitter at the original offer price. It was reported that Musk proposed to buy Twitter for the original offer price of $54.20 per share. In this regard, Musk made the proposal in a letter to Twitter. The filing also mentioned that there is a stay in the Twitter Vs Musk court case. The intent to purchase stands provided that court enter an immediate stay of the action and adjourn the trial and all other proceedings, it added. The SEC filing on Twitter takeover said,

“On October 3, 2022, the reporting person’s advisors sent a letter to Twitter notifying Twitter that the reporting person intends to proceed to closing of the transaction contemplated by the merger agreement.”

Twitter Share Skyrockets

Thanks to the news of Elon Musk SEC filing, the Twitter share price skyrocketed on Tuesday. The share price spiked after news of Musk’s proposal to go with the original offer price. After the news of the SEC filing came, the Twitter stock price reached a daily jump of 21.58% in the day. Earlier, the Dogecoin (DOGE) community got excited with the news of Musk’s interest in closing the Twitter deal.

The token is currently up nearly 8% in the last 24 hours. As of writing, the memecoin price stands at $0.06476, according to price tracking platform CoinMarketCap. There was also speculation of DOGE becoming the official native currency of Twitter after Elon Musk takeover.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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