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Twitter Shares Jump After Elon Musk Reportedly Said He Will Propose to Proceed With the Deal at $54.20

Benzinga ·  Oct 4, 2022 09:27
  • $Twitter (TWTR.US)$ shares are trading higher after Elon Musk reportedly said he will propose to the company to proceed with the deal at $54.20.

  • $Tesla (TSLA.US)$ Shares Move Lower Following Reports Elon Musk To Go Ahead With Original Bid Of $54.20 For Twitter

  • Twitter Inc(NYSE:TWTR) shares are halted on news pending following reports that Tesla Inc (NASDAQ:TSLA) CEO Elon Muskcould proceed with the takeover deal at $54.20 per share.

  • According to a Bloomberg report citing people who asked not to be identified, Musk has made a proposal to buy Twitter at the original offer price of $54.20 per share.

  • Musk reportedly made the proposal in a letter to Twitter, per the people who asked not to be identified because they were discussing confidential information. No other details have been disclosed.

  • The deal previously stalled after Musk claimed that the number of bots or spam accounts on Twitter was much higher than the company stated. A trial on the matter is currently slated to begin in mid-October.

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