Elon Musk's Twitter deal back on - and the billionaire entrepreneur says it's the path to creating 'everything app X'.
Following months of legal battles, the world's richest man is proposing to go ahead with purchasing the social media giant for his original offer price - a total value of $44bn (£38.4bn).
In a letter from Musk's lawyers, he said: "Musk Parties intend to proceed to closing of the transaction... and adjourn the trial and all other proceedings."
The five-year super app project
After news of the deal's reinstatement, Musk said that "buying Twitter is an accelerant to creating X, the everything app".
Musk also claimed that buying the platform has brought forward his X project by three to five years, "but I could be wrong". He gave no further details.
The idea behind X is to function as a ‘super app’, a concept made popular in asia that combines messaging, social media, and payments, and moves away from ad revenue, similar to the Chinese WeChat.
The filing said he will complete the deal provided he gets the debt financing he needs and provided the Delaware Court of Chancery ends the lawsuit brought by Twitter.
Twitter and Musk were due to be in court later this month as the social media giant attempted to hold Mr Musk to his original offer, made in April.