Billionaire businessman, Elon Musk, has agreed to proceed with the deal to buy social media platform, Twitter, at his original offer price of $54.20 per share or $44 billion, causing shares in the company to skyrocket by 22% to $52.02, which is the highest price the shares have attained since November last year.
According to a filing with the Securities and Exchange Commission (SEC), Musk’s representatives sent a letter to Twitter, informing the company of its intent to move forward with the deal, to which the company issued a statement confirming that it received the letter saying, “The intention of the Company is to close the transaction at $54.20 per share”.
