Musk offers to end legal fight and pay 44bn dollars to buy Twitter

Trading in Twitter’s stock had been halted for much of the day pending release of the news (Seth Wenig)

Elon Musk is abandoning his legal battle to back out of buying Twitter by offering to go through with his original 44 billion US dollar (£38bn) bid for the social media platform.

The Tesla CEO made the offer in a letter to Twitter, which the company disclosed in a filing on Tuesday with the US Securities and Exchange Commission.