• Elon Musk is proposing to buy Twitter Inc. for the original offer price of $54.20 a share, Bloomberg News reports.
• Musk made the proposal in a letter to Twitter, according to people familiar with the matter, who asked not to be identified discussing confidential information.
• Shares in Twitter climbed as much as 18% on the news, after trading was briefly halted.
• Musk had been trying for months to back out of his contract to acquire Twitter, signed in April.

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