Musk proposes to proceed with Twitter takeover at $54.20 a share

According to the report on Tuesday, Mr Musk sent a letter to Twitter offering to complete the deal, which already has shareholder approval, at the original price

Tesla and SpaceX Chief Executive Officer Elon Musk. FIle Picture: AP Photo/Susan Walsh, File

Trading in shares of Twitter were halted after the stock spiked on reports that Elon Musk would proceed with his 44 billion US dollar (€44.124bn) deal to buy the company after months of legal battles.

The news, based on anonymous sources, was first reported by Bloomberg News.