Trading in shares of Twitter was halted Tuesday following a report that Elon Musk has proposed to complete the $44 billion deal to buy the social network at the original agreed-on terms.
Musk made the proposal in a letter to Twitter, offering to close the deal at the $54.20 per share price, Bloomberg reported, citing anonymous sources.
Twitter has sued Musk, seeking to hold him to the terms of the binding agreement in April. Musk, the world’s richest individual, has been trying to extricate himself from the deal, citing Twitter’s inability to prove its claim that less than 5% of active users represent bots or spam accounts, among other objections.
There’s been no official comment from Musk or Twitter yet.
More to come.
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