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Elon Musk to proceed with $54.20 a share Twitter deal, report says

The National logo The National 04/10/2022 The National
Elon Musk is said to have proposed an offer to purchase Twitter for $54.20 a share, matching his original offer. Reuters © DADO RUVIC Elon Musk is said to have proposed an offer to purchase Twitter for $54.20 a share, matching his original offer. Reuters

Tesla founder Elon Musk is proposing to buy Twitter for the price of $54.20 a share, it was reported on Tuesday.

The proposed deal, reported by Bloomberg, would match the original offer price Mr Musk had made to the company in April.

Mr Musk threatened to pull out of the deal within weeks of agreeing to buy the social media company, citing concerns over fake accounts on the platform.

The billionaire and Twitter were expected to do battle in a US courtroom this month to determine if he would be compelled to close the deal.

Tesla stock dove from $256.16 a share to $245.27 a share within minutes of the report.

This is a developing story

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