Musk offers to buy Twitter as per original deal

Tesla CEO Elon Musk's proposed $44 billion takeover of Twitter seems to be back on track as he is willing to complete the deal for the original offer price of $54.20 a share, according to a Bloomberg report.

The report stated that Musk made the proposal in a letter to Twitter and in response to the news, Twitter stocks were halted for volatility in the market for jumping 6.7 per cent.  

While not much is known about the deal, Twitter is considering the proposal but will not act on it instantly according to a Washington Post report.

Instead, the microblogging platform will sit on it for another day as there is great distrust on both sides.

The trial following Musk's decision to back out of the deal was set to take place in Delaware Chancery Court, starting October 17.

Earlier, Musk was reluctant to complete the takeover as he claimed that Twitter had over 20 per cent fake users - a direct contradiction to the company's estimate of five per cent.

Conversations between Musk and Twitter CEO

A fresh cache of texts between Tesla CEO Elon Musk and Twitter CEO Parag Agrawal was made public.

In the texts, Musk told Agrawal that he does not want to be a boss, to which Agrawal responded by saying, "Treat me like an engineer instead of a CEO."

However, despite the deal turning chaotic, Twitter's shareholders approved the $44 billion buyout.

According to Twitter, more than 98.6 per cent of votes were cast in favour of the deal.