CATL Shares Fall as Hungary Plant Faces Safety Halt 
Shein Shares Slide 9% in Hong Kong IPO Debut 
SpaceX Mobile Network Could Cost Up to $130 Billion, Bernstein Says 
US Tech Giants’ AI Bond Boom Raises Euro Zone Borrowing Risks 
Trump Says ExxonMobil Among Oil Majors Planning Venezuela Return 
OpenAI Rejects Apple Trade Secret Theft Claims 
Treasury Yields Set to Stay High as Debt Supply Pressures Bond Market 
CIA-Linked Investor Helped Quantum Systems Expand in US 
Lenovo Shares Fall After Dropbox Security Breach Exposes ID Vulnerability 
Bessent Urges Japan on Fiscal Discipline, BOJ Rate Hikes 
Audi, SAIC Launch China Innovation Hub for New AUDI Models 
Japan Bond Yields Top 3% as Inflation, Fiscal Risks Rise 
German Retail Sales Drop 3.4% in July 
Deutsche Telekom Shares Rise as Elliott Pushes Against T-Mobile Merger 
Asian Currencies Weaken as Dollar Rises, Kiwi Slides After RBNZ Hike 
South Korea Inflation Rises to 3.1% in August 
Australia Current Account Deficit Widens to A$27.2 Billion 
Add as a preferred source on Google
Elon Musk changes his mind again and will proceed with the acquisition of Twitter after a train of conflict. It was reported that the 51-year-old billionaire sent a letter to the management of the social media with a proposal to follow through with his deal of buying the company to the original agreed amount of $54.20 per share.
In a securities filing on Tuesday, Twitter said it also plans to close the acquisition deal with Musk at full price, which means $44 billion. According to CNN Business, the letter was sent to Twitter by Musk on Monday, Oct. 3.
The Tesla and SpaceX founder said in the letter, that he decided to proceed with the deal on the original financial terms that were agreed on in April. However, Musk said that the price would remain the same provided that the Delaware Chancery Court will stop the legal proceedings on his initial attempt to ditch the agreement and shelve the upcoming trial over the dispute.
The news of Musk’s decision to proceed with the acquisition comes as the trial is set to begin in two weeks. It is the trial in connection to the billionaire’s attempt to quash its $44 billion acquisition agreement with Twitter. The social media platform sued him to complete the deal that was left hanging.
As posted on CNBC, here is part of the letter that Musk’s attorney, Mike Ringler, sent to Twitter earlier this week, “On behalf of X Holdings I, Inc., X Holdings II, Inc. and Elon R. Musk, we write to notify you that the Musk Parties intend to proceed with the closing of the transaction contemplated by the April 25, 2022 Merger Agreement.”
They went on to say, “On the terms and subject to the conditions set forth therein and pending receipt of the proceeds of the debt financing contemplated thereby, provided that the Delaware Chancery Court enter an immediate stay of the action, Twitter vs. Musk, et al. and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court.”
Meanwhile, the share price of Twitter shot up by 22% after the news of Musk’s proposal to proceed with the deal was released.
