Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Gulf Sovereign Funds Unite in Paramount–Skydance Bid for Warner Bros Discovery 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
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.
