Elon Musk has offered to close his $44 billion deal to buy Twitter on the terms he originally agreed to. Twitter confirmed receipt of the proposal and said it intends to close the transaction at the original price of $54.20 a share. Should the parties agree to do so, the proposal would enable them to avert a five-day nonjury trial set to begin Oct. 17th, but there are no guarantees they will reach a deal. Twitter shares jumped 22% yesterday on the news.
Futures are down after stocks rallied yesterday. The Dow Industrials surged 825, the NASDAQ jumped 361 and the S&P 500 gained 112.
