Submitted by Mauricio-Babilonia t3_xvj3yh in wallstreetbets
https://twitter.com/DeItaone/status/1577329137936654337
$TWTR paused to volatility. It's happening.
EDIT: $TWTR resumed trading. Up 15%. Halted again.
EDIT 2: More context:
Twitter shares surged 15% on Tuesday after Bloomberg reported that Tesla CEO Elon Musk plans to go forth with his deal to acquire the company for $54.20 a share. The stock was halted after the report.
Musk agreed to the deal earlier this year, valuing Twitter at $44 billion, but he quickly changed course and tried to back out of the agreement. Twitter sued Musk to force him to go through with the purchase. The two sides were scheduled to go to court on Oct. 17.
According to Bloomberg, which cited people with knowledge of the matter, Musk made his latest proposal in a letter to Twitter. Other media have independently confirmed Musk’s renewed offer.
EDIT 3: Letter Was Filed Confidentially With Court Ahead of Emergency Hearing Tuesday, Source Says -- WSJ
EDIT 4: From WSJ
"The billionaire’s lawyers communicated the proposal to Twitter’s lawyers overnight Monday and filed a letter confidentially with the Delaware Chancery Court ahead of an emergency hearing on the matter scheduled for Tuesday, the person said.
If Twitter accepts the proposal, the two sides wouldn’t have to follow through on a five-day nonjury trial set to begin Oct. 17. There are no guarantees they will reach a deal and the trial could still go forward as planned.
Mr. Musk was set to be deposed later this week as part of the preparations for the trial."