Elon Musk to go ahead with Twitter takeover after all: report

Billionaire Elon Musk is expected to propose going ahead with his takeover of Twitter Inc. at $54.20 US per share, a Bloomberg news reporter tweeted on Tuesday.

Twitter shares were up 12.7 per cent, at $47.93 US, before trading was halted for the second time.

Twitter and Musk’s lawyers were not immediately available for a comment.

Musk and Twitter were set to enter the courtroom this month, with Twitter seeking an order directing Musk to close the deal at $54.20 US per share.

Musk agreed in April to buy Twitter for $44 billion US, but within weeks said the number of bot accounts was much higher than Twitter’s estimate of less than five per cent of users.

More to come

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