Shares of Twitter were up 15% after Bloomberg reported that billionaire Elon Musk intends to pursue a plan to acquire the company for $ 54.20 per share, CBS reported.
Trading of Twitter shares was suspended shortly after the announcement, adds BTA.
Musk negotiated a deal to buy the company for $ 44 billion, but then backed off and tried to derail the deal.
Twitter filed a lawsuit against the billionaire in an attempt to force him to close the deal, and the two sides are expected to go to court on October 17 to settle the dispute.
According to Bloomberg, citing familiar sources, Musk made his latest proposal in a letter to Twitter. CBS confirms that this offer has been made.
