Elon Musk has apparently changed his mind about buying Twitter, again, and is now willing to proceed with his takeover of the social media platform, reports BBC.
Musk agreed to pay the price he offered months ago before trying to quit the deal.
The surprise reversal came just weeks before the two sides were due in court.
Twitter, which had sued Musk to force the takeover to move forward, was seen as having the stronger case.
Attorneys for Musk said he intended to move ahead to complete the transaction, pending receipt of the financing and end the legal fight.
A spokesperson for Twitter had received the proposal, adding "the intention of the company is to close the transaction at $54.20 per share" the price that Musk promised in April.
The apparent win for Twitter sent its shares soaring more than 20% to more than $52 apiece. But the value remained lower than the takeover price, in a sign of lingering investor doubts the deal will go through.
Later on Tuesday, Musk wrote in a tweet: "Buying Twitter is an accelerant to creating X, the everything app".
Bd-pratidin English/Ishrar Tabassum
