Shares of the company jumped on news that Elon Musk was closing in on a $444 billion deal to buy Twitter after months of legal battles.
Trading in the shares of this company was stopped for some time due to the upper circuit.
Bloomberg has reported on this based on reliable sources. After Musk offered to buy the San Francisco company for $54.20 per share, shares rose nearly 13% to $47.95 before trading was halted.According to reports, Musk sent a letter to Twitter offering to complete the deal, which has already been approved by shareholders.
Meanwhile, a trial to force Musk to buy Twitter at the original price is scheduled to begin later this month. Shareholders were upset after the dispute over the Twitter acquisition deal went to court.