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TAKE OVER BACK ON: Elon Musk Proposes U Turn on decision to back out of twitter takeover

ELON Musk’s twitter takeover is reportedly back on after the Billionaire signalled he would proceed with his $44 billion (£38 billion) deal to buy the social media giant after months of legal battles.

For a second time, Mr Musk offered to buy the San Francisco company at 54.20 dollars.

Twitter’s stock jumped nearly 13% to 47.93 dollars before trading stopped on the New York Stock Exchange, which listed “news pending” as the reason for the halt.

Trading halts are how stock exchanges give investors a forced timeout when trading for a stock gets too chaotic, or when a company is about to offer market-moving news.

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Bloomberg News reported on Tuesday that Mr Musk made the proposal in a letter to Twitter, according to people familiar with the case who were not identified.

Mr Musk has been trying to back out of the deal for several months after signing on to buy the social media platform in April.

Shareholders have already approved the sale.

Neither Twitter nor lawyers for Mr Musk responded to messages seeking comment on Tuesday.

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