Elon Musk hits pause on Twitter deal after aggressive pursuit


FILE PHOTO: Elon Musk looks at his mobile phone in Cape Canaveral, Florida, U.S. January 19, 2020. REUTERS/Joe Skipper

(Reuters) - Elon Musk on Friday put his $44-billion Twitter offer on temporary hold, sending the shares of the social media company into a tailspin.

Twitter stock has consistently traded below Musk's offer price of $54.20 per share since the announcement of the deal on April 14, wiping off over $2 billion from the company's market capitalization.

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