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Musk proposes to buy Twitter for original price of $54.20 a share: Report

Twitter shares jumped 12.7% to $47.93 before trading was halted for the second time, while Tesla shares rose by about 1%

Elon Musk
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Elon Musk (Photo: Bloomberg)

Reuters
Billionaire Elon Musk is proposing to go ahead with his original offer of $44 billion to take Twitter Inc private, two sources familiar with the matter said on Tuesday, signaling an end to a bitter legal battle that was about to go to trial.

The agreement puts the world's richest person in charge of one of the most influential media platforms and ends months of turbulent litigation that damaged Twitter's brand and fed Musk's reputation for erratic behavior.

Musk, the chief executive of electric car maker Tesla Inc , will take over a company he originally committed to buying in April, but

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)