Elon Musk on Tuesday revived his offer to buy social networking site Twitter for $44bn, after previously attempting to back out of the high-profile deal.
The Tesla billionaire proposed the price, which equals the original valuation of $54.20 a share, in a letter to Twitter filed on Monday with the Securities and Exchange Commission.
Mr Musk broke his silence on the deal on Twitter late Tuesday, writing: “Buying Twitter is an accelerant to creating X, the everything app”. He added that buying Twitter “accelerates X by 3 to 5 years”.
In July, Twitter sued Mr Musk for what it said was his “wrongful” attempt to cancel his offer, a case that may force the entrenpreneur into acquiring the company.
Without an agreement, proceedings in the case are set to begin within days, with Mr Musk scheduled to be deposed in Texas later this week.
