Elon Musk revived his $54.20-per-share offer for Twitter in October 2022 after months of litigation. CNBC reported the renewed proposal. For shareholders, the gap between Twitter’s trading price and the offer had been a measure of closing risk.
I was less interested in guessing why Musk changed his mind than in whether the deal actually closed on those terms. A buyer’s renewed offer is a step, not cash in shareholders’ accounts. The operating questions for Twitter would start after the transaction.