Elon Musk has finally agreed to go ahead and buy Twitter at $54.20 a share - as per the original offer he made back in April.

This news has not yet been legally confirmed by either Elon Musk or Twitter - expect to see the paperwork come through via SEC at some point in the coming hours.

Shares of Twitter have been suspended from trading as the news broke, just after going up 15% as the news was breaking.

And shares of Tesla fell sharply by around 5% at the time as investors are trying to figure out if this means Elon will have to sell more Tesla stock and whether his attention is going to be divided as a result.

This move comes just a few days before Elon Musk was due to face down Twitter in the Delaware Chancery Court as Elon made public statements saying that the number of bots on the platform was grossly understated and this was a material effect on the price of Twitter shares.

#twitter $TWTR #TWTR

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