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Elon Musk Plans To Continue Buying Twitter

Elon Musk Plans To Continue Buying Twitter
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Tesla CEO Elon Musk has offered to move forward in his renegotiation to buy Twitter at the originally agreed price of $44 billion, or $54.20 per share, according to a letter from Musk’s lawyers.

The letter also asked for an immediate suspension of Twitter’s lawsuit against Musk to force him to move forward with the deal. This lawsuit was due to go to court in just two weeks.

In a tweet from Twitter’s investor relations department on Tuesday afternoon, the company said it had received a letter from Musk and his attorneys and that “the company intends to close the deal at $54.20 a share.”

Shares of Twitter surged 13% on the news and settled at $47.96 on Tuesday morning. They briefly resumed trading late in the day and ended trading up 22% to $52.05.

Also on the move was Elon Musk’s favorite meme coin, Dogecoin (DOGE), which surged 7.5% to around $0.0645, Bloomberg first reported.

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