The trading of his stock Twitter was suspended today on the New York Stock Exchange “pending information”, on the occasion of a report by the Bloomberg agency which claims that the Elon Musk went back on its proposal to acquire the platform, at the original price agreed in April.
Trading was initially halted for five minutes and then suspended after the share price shot up +18%.
Bloomberg reported that the billionaire Elon Musk has again proposed to buy Twitter Inc for $54.20 per share, which was his original offer.
Twitter’s stock at Wall Street hit $47.93, but at the same time shares of Tesla Inc, Musk’s electric vehicle company, were down 3%.
Musk’s proposal was made in a letter on Twitter, according to Bloomberg.
Attorneys for both sides were not immediately available for comment.
Musk agreed in April to buy Twitter for $44 billionbut within weeks it backtracked, claiming that the number of bot accounts was much higher than the company’s initial estimate that they represented less than 5% of users.
The development comes as the two sides were expected to face off on Oct. 17 in Delaware Commercial Disputes Court, where Twitter is seeking a ruling forcing Musk to implement the original deal by paying $54.20 per share.
Source: News Beast
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