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Elon Musk and Twitter Approaching Agreement, Buyout May Follow Soon, Reports Claim

© AP Photo / John RaouxElon Musk founder, CEO, and chief engineer/designer of SpaceX speaks during a news conference after a Falcon 9 SpaceX rocket test flight at the Kennedy Space Center in Cape Canaveral, Fla, Jan. 19, 2020.
Elon Musk founder, CEO, and chief engineer/designer of SpaceX speaks during a news conference after a Falcon 9 SpaceX rocket test flight at the Kennedy Space Center in Cape Canaveral, Fla, Jan. 19, 2020. - Sputnik International, 1920, 06.10.2022
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Previously, the social media platform said that Musk announced his intention to close the transaction at $54.20 per share ($44 billion total).
The dramatic story of Twitter's purchase by Elon Musk may soon be resolved, as the billionaire and the tech giant are on their way to reaching an agreement, so they may end their court battle in the coming days, Reuters reported on Wednesday night, citing a source close to the matter.
In a bid to cease the litigation, both sides agreed to postpone the billionaire's deposition in court scheduled for Thursday, the agency added - however, according to judge Kathaleen McCormick, Musk and Twitter are yet to file an official stipulation and reach the accord.
© AP Photo / Gregory BullThe Twitter splash page is seen on a digital device, Monday, April 25, 2022, in San Diego.
The Twitter splash page is seen on a digital device, Monday, April 25, 2022, in San Diego. - Sputnik International, 1920, 06.10.2022
The Twitter splash page is seen on a digital device, Monday, April 25, 2022, in San Diego.
Musk announced his intention to buy Twitter earlier this year - however, in July, his legal team filed a notice to terminate the deal, citing a violation of contractual obligations by the tech company. According to the billionaire, Twitter failed to account for the true number of spam accounts on the platform.
Twitter sued Musk to make him proceed with the deal, while the businessman countersued, with another note following in august, citing serious security flaws of the platform as an additional argument.
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