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Elon Musk proposes to buy Twitter at original offer price

Acquisition would end legal battle between Tesla CEO and social media giant

Elon Musk reportedly plans to buy Twitter at the originally agreed-on price of $54.20 per share.   © Reuters

PALO ALTO, U.S. -- Elon Musk is proposing to buy Twitter at the original offer price of $54.20 per share, according to a regulatory filing Tuesday, reversing his attempt to back out of the deal that got him ensnared in a protracted court battle with the U.S. social media company.

Musk, CEO of Tesla and SpaceX, first made the $54.20-per-share offer in April, which valued Twitter at $44 billion. But Musk then informed Twitter he would not proceed with the acquisition, claiming he was misled by the company over the number of spam accounts on the platform.

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