Musk to buy Twitter at original price, share trading halted

Trading in Twitter shares is halted as the stock spiked following reports that Musk is planning to buy the company for his original offer price of $54.20 per share. The shares had been up by 13% at $47.95 before trading was paused following the news. Twitter and Musk were due to be in court later this month as the company attempted to hold Musk to his original $44bn offer, made in April.

Musk had wanted to back out of the deal over the number of bot accounts on the platform, which he said was above Twitter’s estimate of 5% of users. The takeover deal has already received approval from Twitter shareholders.