Elon Musk said to propose completing Twitter deal at full price

Bloomberg reports that Elon Musk has said to propose buying Twitter at $54.20 per share, the orignial price.

If you've followed the court proceedings, they're not going well for him. Shares of TWTR were paused for volatiltiy at $45.40 on a circuit breaker.

David Einhorn will be having a very good day if this news is true.

Meanwhile, shares of Tesla have fallen about $10 to $247 on the report on expectations that Elon Musk will need to sell shares to fund the takeover.

Update: Shares have now reopened at $49.835

Update 2: Multiple reports confirm that Musk has sent a letter to Twitter proposing to drop all litigation and close the deal. CNBC's David Faber said the deal could close as soon as Friday or Monday if Musk drops a 15-day financing period waiver.

The Washington Post said Twitter is considering the proposal but will not act for at least another day, according to a source. They say there is great distrust on both sides and Twitter leaders are questioning whether the letter represents a legal maneuver.

/US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term