Elon Musk proposed a deal with Twitter that could bring a legal fight between the billionaire and the social media company to an end. The arrangement would allow Musk to acquire Twitter at $54.20 per share for a total of $44 billion, the price he agreed to pay for the company in April. Musk's lawyers submitted the latest proposal to Twitter, informing the company that Musk intended to proceed with his original offer. “We write to notify you that the Musk parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement," the letter read. In the letter, the lawyers further requested that the court battle be paused, pending the closing of the deal. They suggested that the newly revived deal include that the court "enter an immediate stay of the action, Twitter vs. Musk, et al. and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court."
Elon MuskTwitter

References

  1. Letter from Skadden, Arps, Slate, Meagher & Flom llp
    sec.gov

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