On Tuesday, October 4, trading in Twitter shares was suspended as Elon Musk once more suggested buying the social media business.
Elon proposed to purchase Twitter at his initial offer price of $54.20 per share only weeks before he was scheduled to go to court to resolve the case after trying to back out of the transaction in a dispute about spam accounts.
When word of his offer spread, the company's share price increased by 13%.
Elon Musk's proposal to repurchase the firm has caused Twitter shares to stall.
Elon Musk made a $44 billion purchase bid for Twitter in April 2022. He attempted to back out of the agreement in July, though, claiming Twitter's apparent inability to provide sufficient information on the number of spam and bot accounts that were active on the site after months of back and forth.
He was sued by Twitter for trying to back out, and in a few weeks, Musk and Twitter would square off in a civil lawsuit.
Although it's unknown what caused Musk to alter his mind, Tuesday's new plan marks the conclusion of that disagreement.
He will most likely soon become the owner of the business, according to sources reported by CNBC.
It comes after one of Musk's pals, American billionaire Ari Emanuel, persuaded Twitter to settle with him before the court date.
Endeavor CEO Emanuel recently got in touch with Twitter board member Egon Durban to ask him to settle the conflict.
The long-running disagreement comes to a conclusion with Musk's decision to withdraw from the court case.