Tesla CEO Elon Musk has sent a letter to Twitter management in which he has proposed to resume the process of taking over the company.
According to sources, the billionaire has announced the initial conditions: $54.2 per share. In April, the leadership of the social network approved a deal for a total amount of about $44 billion.
Twitter shares have reacted to the news with a sharp rise.
The information about the resumption of the transaction has also pushed the meme cryptocurrency Dogecoin, which has increased by almost 8% over the past day.
Musk became Twitter’s largest shareholder in April after acquiring a 9.2% stake in the company for $2.89 billion.