American tech billionaire Elon Musk, has said that he intends to proceed with his original $54.20 per share offer to acquire Twitter, a Micro-blogging and Social network platform.
According to the U.S. Securities and Exchange Commission (SEC), in a letter filed, Musk will follow through on the $44 billion acquisition pending the receipt of the deal’s debt financing.
Twitter had first accepted Musk’s offer in April this year.
recall that the billionaire had informed Twitter in July that he was planning to terminate the deal, after alleging the company breached its obligations by misrepresenting the number of spam and fake accounts on the platform.
However, Twitter maintained that spam and fake accounts make up less than 5% of its users.