Elon Musk may move forward with a $54.20 per share twitter deal: Report

This month, Elon Musk and Twitter were scheduled to appear in court. Twitter was asking the judge to order Musk to complete the transaction at $54.20 a share.

Advertisement

A Bloomberg news reporter tweeted on Tuesday that billionaire Elon Musk is anticipated to propose moving through with his acquisition of Twitter Inc. at $54.20 a share.

The price of Twitter shares was up 12.7% at $47.93 when trading was again suspended.

Musk’s attorneys and Twitter were unavailable for comment right away.

This month, Musk and Twitter were scheduled to appear in court. Twitter was asking the judge to require Musk to consummate the transaction at $54.20 per share.

Musk agreed to purchase Twitter for $44 billion in April, but within weeks claimed there were far more bot accounts than Twitter had estimated, which was fewer than 5% of all users.