New Delhi: Billionaire Elon Musk is anticipated to propose moving forward with his acquisition of Twitter Inc at a price of $54.20 per share, according to a tweet from a Bloomberg news reporter on Tuesday.

The price of Twitter shares was up 12.7% at $47.93 when trading was again suspended.

Musk’s attorneys and Twitter were unavailable for comment right away.

This month, Musk and Twitter were scheduled to appear in court. Twitter was asking the judge to require Musk to consummate the transaction at $54.20 per share.

Musk agreed to purchase Twitter for $44 billion in April, but within weeks claimed there were far more bot accounts than Twitter had estimated, which was fewer than 5% of all users.