Elon Musk has offered to buy Twitter for $44bn (£38.3bn) for the second time this year.
In a letter sent by Musk's attorneys, the billionaire's intention to move ahead with the original deal was confirmed, pending receipt of the financing and an end of the legal fight.
The news comes just two weeks before the two sides were scheduled to meet in Delaware's Court of Chancery, on October 17, where Twitter was preparing to sue Musk to either complete the deal or pay the previously agreed $1bn penalty for reneging on the deal.
“We received the letter from the Musk parties which they have filed with the SEC," said a Twitter spokesperson. "The intention of the company is to close the transaction at $54.20 per share."
The announcement is the latest twist in a long-running saga after the world’s richest person announced his intention to buy Twitter in April 2022, only to place the deal “on hold” the following month, stating that...