© Reuters. FILE PHOTO: An image of Elon Musk is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) – Billionaire Elon Musk is expected to propose going ahead with his takeover of Twitter Inc (NYSE:) at $54.20 per share, a Bloomberg news reporter tweeted on Tuesday.
Twitter shares weere up 12.7% at $47.93 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 per share.
Musk agreed in April to buy Twitter for $44 billion, but within weeks said the number of bot accounts was much higher than Twitter’s estimate of less than 5% of users.
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