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Elon Musk
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Trading in shares of the short message service has been suspended following reports of Elon Musk reversing his takeover of Twitter.
Bloomberg, CNBC, the Wall Street Journal and the Washington Post reported, citing insiders, that the tech entrepreneur had renewed his original offer of $54.20 per share to Twitter.
The purchase price would be the originally agreed $44 billion.
The company initially did not comment on the offer.
After these reports about the Musk turnaround, the share price skyrocketed, then trading was initially suspended, resumed a little later and finally suspended again, as reported by the German Press Agency.
According to the AFP news agency, the New York Stock Exchange justified the move with “upcoming news”.
The process is scheduled to begin in October
The founder of the electric car manufacturer Tesla had announced a takeover of Twitter for 44 billion dollars in April.
Musk then voided the purchase agreement in July because Twitter allegedly misrepresented the number of fake accounts on the platform.
The company insisted on compliance with the purchase agreement and went to court.
Accordingly, a process is scheduled to begin on October 17 in the US state of Delaware to clarify whether Musk can withdraw from the takeover.
In September, a majority of Twitter shareholders voted in favor of Tesla CEO Elon Musk's $44 billion takeover bid.
dam/dpa/AFP/Reuters