Elon sent a letter to Twitter on Monday seeking to revive his offer for the company at his original offer of $54.20 a share, under the condition that Twitter enter an immediate stay of their current lawsuit against Musk. Twitter said on Tuesday that the company intends to close the deal at the offer price.

BREAKING: Elon Musk is abandoning his legal battle to back out of buying Twitter and offering to go through with his original $44 billion bid for the social media platform. https://t.co/eq5J8nGbLd

— The Associated Press (@AP) October 4, 2022