Elon Musk Reportedly Proposes to Proceed With Twitter Acquisition

Tesla (TSLA) CEO Elon Musk has proposed moving forward with his on-again/off-again purchase agreement for Twitter (TWTR) at the originally-agreed upon price of $44 billion, or $54.20 per share, according to Bloomberg.

Twitter shares spiked 13% higher on the news, and are currently halted at $47.96. Also on the move is Musk's favored memecoin, Dogecoin (DOGE), now up 7.5% at $0.644.

The report comes just weeks before Elon Musk and Twitter are set to go to trial over Musk's breaking of the deal.

This is a developing story. Please check back for updates.