Tesla CEO Elon Musk has proposed to buy Twitter for the original price of USD 54.20 per Share, as per reports. People familiar to the matter on anonymity, said that Elon Musk made the offer in a letter to Twitter, said report. Twitter shares shot up by 18 per cent after the news of the proposal spread. Elon Musk had earlier, walked out of the USD 44 billion deal to acquire the microblogging site. Elon Musk's team said that the deal was terminated as Twitter was in material breach of their agreement and made false and misleading statements during negotiations. Also Read | Twitter Sues Elon Musk As He Walks Out of USD 44 Billion Acquisition Deal.

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