10/4/2022, 6:19 PM (Source: TeleTrader)
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Musk offers Twitter to go ahead with deal at $54.20 per share - report

Billionaire and Tesla CEO, Elon Musk, proposed to Twitter to continue with the deal at $54.20 per share, CNBC reported Tuesday, citing sources "independently confirmed."

According to the report, Musk's lawyers delivered the new proposal to Twitter late Monday night and filed a confidential letter with the Delaware Chancery Court ahead of an emergency hearing on the matter scheduled for Tuesday. Following the news, Twitter Inc's trading was paused twice after shares soared 15%.

Weeks after Musk agreed to the original deal at $44 billion, he changed his mind. Twitter sued Musk to force him to proceed with the acquisition. The two parties were expected to attend court on October 17.

Baha Breaking News (BBN) / JG